Agrokor Publishes 2016 Results and Restates 2015 Results after Audit, a Credit Negative
On Tuesday, Croatian retailer and food manufacturer Agrokor D.D. (Ca negative) released its overdue 2016 annual results, the first published results since 29 November 2016. Following the company’s filing for restructuring in April 2017, the Croatian government appointed PricewaterhouseCoopers (PwC) to prepare the 2016 accounts and audit Agrokor’s accounting. PwC found many accounting irregularities, along with a deterioration in operating performance, a credit negative for Agrokor.