Gorenje Reports First Half Loss Aug 27, 2009

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Gorenje reported a net loss in the first half of the year. Its net loss in the first half stood at €18 million (approx. US$25 million) versus a net profit of 8 million in the year ago period. Sales fell 8.3% to €568 million ($808 million).

"The downward trend in the scope of business activities continued in the second quarter," Gorenje said in a statement. "The scope of orders was stabilized at the level which should, according to the estimates of our sales offices abroad and branch analysts, not face significant additional decreases by the end of 2009," it said.

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