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Disastrous apple collection programme drives Eskimos into the red

Interest on the loan raised to implement the programme was a major factor

Eskimos SA made a net loss of PLN1.63 million (USD424,000) in the first quarter of this year. The company blames the growing financial costs (PLN602,000, compared with PLN219,000 in the first quarter of 2018) including, in particular, interest expenses (PLN487,000, up from PLN163,000 in the previous year). The interest payments related to the working capital loan granted by Bank Ochrony Środowiska for part of the apple purchases.

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