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Croatia’s Podravka Group posts 8.1% increase in net profit

Podravka

(Photo: Podravka)

ZAGREB, Oct 29 (Hina) – The Podravka Group saw an increase in net profit of 8.1% in the first nine months of 2020 despite the difficult business conditions, and its sales revenues went up by 2.8%, the Koprivnica-based food and pharmaceutical group said on Thursday.

The Podravka Group generated a net profit of HRK 210.1 million in the first nine months of 2020, which is an increase of 8.1% on the year.

Despite numerous negative impacts on business, including negative exchange rate differences, the increase in the price of raw materials, and a weaker tourist season, we have managed to respond to many challenges and achieve results we can be proud of, Podravka Management Board chairman Marin Pucar said.

In the first nine months of 2020, sales revenues went up by HRK 90.1 million or 2.8% year-on-year, and they amounted to HRK 3.3 billion.

The Food segment earned HRK 2.6 billion in sales revenue, which is an increase of HRK 69.4 compared to 2019.

Sales revenues in the Pharmaceuticals segment increased by HRK 20.7 million to HRK 708.9 million.

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