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Globus losses worsen in first quarter

Canning company Globus Rt had net losses of Ft 762 million in the first quarter of 2006, 66% more than the losses of Ft 459 million it posted in the same period a year earlier, according to the company's preliminary consolidated Q1 report, prepared with International Financial Reporting Standards (IFRS) and published on Friday.

Operating losses increased to Ft 598 million in Q1 2006 from Ft 383 million in Q1 2005, and financial losses rose to Ft 166 million from Ft 97 million. Globus's first-quarter net revenue slipped 1% to Ft 7.06 billion in Q1 2006 from the same period a year earlier.