ZAGREB, April 25, 2018 – The Podravka Group, specialised in food and pharmaceutical production, on Wednesday published unaudited results for the first three months of 2018 with a net profit of 69.8 million kuna, as against HRK 18 million in net profit in the corresponding quarter of 2017.
The Podravka Group’s revenues increased 8.3% to 988.9 million kuna in Q1 2018 compared to Q1 2017, and the company said that the profit in Q1 2018 was a record high.
“Podravka Group sales revenues amounted to 988.9 million kuna, which is 75.6 million kuna or 8.3 percent more than in the same period the year before. Sales revenues were mostly affected by increased sales in food segment, due to extensive sales and marketing activities and distribution expansion of individual categories,” according to a press release issued on the Zagreb Stock Exchange (ZSE).
“Food segment achieved 789.8 million kuna of sales revenues, i.e. it has increased by 9.2% compared to the same period last year, while without the exchange rate differences the revenues would be higher by 9.9%. Within this segment, all business programmes achieved increase in sales revenues and own brands grew by 8.6%,” according to the press release.
“Podravka Group’s other segment, pharmaceuticals, achieved 199 million kuna in sales revenues, which is a five percent growth, compared to the same period the year before, while without the influence of exchange rate differences, the revenues would be higher by 7.5 percent.”
