Do you know the Amount of Profit that Popovo Field achieved in 2016?

April 9, 2017 2:00 PM

popovo-poljeRevenues of one of the most famous companies from Herzegovina for the production of fruits and vegetables “Popovo polje” Ltd. Trebinje amounted to 1,912,945 BAM last year. The company achieved positive business for the second consecutive year, and they achieved of 46,000 BAM, as reported by Herzegovina press.

Last year was marked by numerous investments in machinery, raw material, and they settled the concession by the end of March 2017.

Last year they achieved the recapitalization of the company, and the total capital was doubled and amounted to 3,207,815 BAM, and shareholders brought 721,737 BAM to the company by its payments on the basis of redemption actions.

Operating costs in the reporting period amounted to 1,797,920 BAM.

The most important item in operating income are sales of goods and productivity of the company that amounted to 1,280,474 BAM or 66.55% of total operating revenues and it was achieved by the sale of grapes, apples, and cherries. When it comes to operating expenses, the most common are material costs that amounted to 520,565 BAM, costs of salaries and other employee benefits that amounted to 302,276 BAM, as well as amortization costs in the amount of 489,581 BAM.

Expenses for gross salaries refer to total wages of employees and they were not burdening the investment, which was burdened only by costs of fertilizer, fuel and protection. Expenses of regular activities include expenses of all areas under plantations (orchards and vineyards).

“The company is burdened by the obligations from the previous period, in the amount of 286,691 BAM. Besides the mentioned loss, the company has a significant amount of primarily short-term liabilities whose servicing of current operations is uncertain at this point. Despite all these facts that refer to difficulties that they are dealing with, the company managed to record a positive financial result for the second consecutive year, which represents a confirmation of the effort of the Management Board and all of the employees. This result shows that the company is going in the right direction and that we will be able to service our obligations in the upcoming years and to continue with significant growth in our revenues and profit,” as stated in the financial report for the year of 2016.

(Source: akta.ba)

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