The Slovenia Times

SBI TOP Suffers Heavy Losses This Week

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Brokers wrapped EUR 6.2m in deals in a week marked by the release of quarterly results of several companies.

The most coveted item, pharma company Krka, which accounted for 2.34m in deals, lost 7.34% to EUR 42.90.

Andrej Zakotnik of the brokerage GBD told the STA that the Novo-mesto based drug maker's decision to launch a buyback of its own shares did nothing to prevent depreciation.

Krka also "proposed to pay out dividends at EUR 1.50 gross each, which according to the current value means a 3.5% dividend yield", Zakotnik added.

Following NKBM on the losers' side was energy company Petrol, which was down 7.61% to EUR 170.

Telco Telekom Slovenije, which reported EUR 15.4m in group net profit in the first quarter of 2012, up 6% over the same period last year, lost 3.65% to EUR 68.89.

The group's revenues and operating profit were however down 1% to EUR 193.8m and EUR 22.8m, respectively.

Household appliance maker Gorenje, which slid 2% to EUR 4.90, announced it had made EUR 2.1m in net profit in the first three months, which is up 12.9% over last year's first quarter.

Retailer Mercator, where Toni Balažič took over as the new CEO on Friday, lost 2.31% to EUR 125.

Insurer Zavarovalnica Triglav lost 1.61% to EUR 12.21, despite its net group profit rising 8% to EUR 17.6m in the first quarter.

Outside the blue chip index, port operator Luka Koper slumped 11.7% to EUR 8.83 and logistic company Intereuropa lost 6.82% to EUR 0.41. Reinsurer Sava Re remained flat at EUR 5.30.
 

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