Kras Confectionery Sees Higher H1 Profit Despite Drop in Revenues

ZAGREB, July 22, 2020 – Despite a drop in revenues due to the global coronavirus pandemic and economic lockdown, the Kras confectionery group generated a net profit of HRK 13.4 million in the first half of 2020, which is an increase of 15% on the same period of 2019.

Revenues reached HRK 453.1 million, down by 2.6% compared with the first half of last year, the company’s financial statement showed on Wednesday.

Sales revenues fell by 6.6% to HRK 427.3 million, of which HRK 225.7 million was generated on the domestic market and HRK 201.6 million on the foreign markets.

Expenditures were nearly 3% lower than last year, totalling HRK 438 million.

The gross profit was HRK 15.1 million, or 8% more than at the same time last year, while the net profit reached HRK 13.4 million. 

(€1 = HRK 7.527586)

 

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