Loss grows at restructuring Uljanik yard

Restructuring Croatian shipbuilder Uljanik Group has seen its first quarter loss widen.

It said in a filing it lost HRK 41.7m ($6.8m) on a net basis to 31 March, against HRK 33.2m in 2017.

Revenue fell 51% to HRK 406.5m, while costs were also down at 48.4% to HRK 448.2m.

In March, Croatian tycoon Danko Koncar's Kermas Energija won the race to take part in its financial restructuring.