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Sava Group First-Quarter Loss Narrows to 5.8 Million Euros

Sava Group d.d., a Slovenian rubber maker with interests in tourism and real estate, said its first-quarter loss narrowed on increased sales in the rubber division.

The net loss shrank to 5.8 million euros ($7.3 million) from 22.4 million euros in the same period a year ago, the Kranj, Slovenia-based company said in a regulatory statement. Revenue advanced 7 percent to 45.4 million euros, it said.

Sava wants to lower its debt load with banks in Slovenia by year’s end, which amounted to 372.4 million euros at the end of March, the company said.

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