 |
© Erste vrijednosni papiri Zagreb d.o.o. |
Highlights:
- The CROBEX declined 0.8% on lowest turnover since June 23, 2006
- Dalekovod wins deal worth HRK 370mn – press
- Magma announces consolidated financial reports
- Agrokor and Carrefour to fight for Lenta – press
- Belje receives HRK 83mn in subsidies for agriculture last year
market comment:
The Croatian equity market opened the week with a sluggish trading day, with extremely poor liquidity levels. The market recorded only HRK 17mn in regular turnover, the least since June 23, 2006. Only five stocks recorded more than HRK 1mn in turnover, which accounted for two thirds of the total regular turnover. The CROBEX declined 0.8% to 3,623.9 points, the biggest drop in four weeks.
market outlook:
Sideways trading could be seen on the Croatian equity market. INA and Dalekovod could be in focus, with possibly increased interest in companies from the Agrokor Group.
Corporate news:
Dalekovod wins deal worth HRK 370mn – press
(N.R., current price: HRK 644.00)
According to Croatian daily Poslovni dnevnik, Dalekovod won a new deal with motorway operator Hrvatske autoceste (HAC), citing Information from unofficial sources. Dalekovod should provide and install illumination, video surveillance, traffic signalization and other equipment for the second tubes of the tunnels Mala Kapela and Sv. Rok on the Zagreb–Split highway, Poslovni dnevnik said, adding that all work should be finished in summer 2009. Poslovni dnevnik speculates that the contract should be signed in September, while the total value of the contract is estimated at HRK 370mn. The company could witness slight positive movements based on this news, since the contract accounts for approx. 20% of the company’s annual sales. Davor Spoljar +385 62 372 825
Magma announces consolidated financial reports
Retail company Magma announced its consolidated financial report for 1H08, with sales growth of 20.9% y/y to HRK 226.7mn in 2Q08. However, the company suffered a quarterly net loss of HRK 11.3mn (as opposed to an HRK 23.1mn net profit in 2Q07), due to a surge in operating costs of 44.5% y/y, particularly material costs (+41% y/y) and the other costs item (+52.3% y/y). On the cumulative level, Magma’s bottom line sunk even deeper than in 1Q08 to a net loss of HRK 27mn, due to operating costs (+38% y/y) growing significantly faster than sales (+24.3% y/y to HRK 427mn).
Agrokor and Carrefour to fight for Lenta – press
Croatian daily Poslovni dnevnik reported on Tuesday that Croatian food concern Agrokor and French supermarket chain Carrefour remained the only competitors for Russian supermarket chain Lenta, after offers from America’s Wal-Mart and Finland’s Kesko were eliminated, Poslovni dnevnik said, referring to unofficial Information coming from Russia.
Belje receives HRK 83mn in subsidies for agriculture last year
The Ministry of Agriculture allocated HRK 2.3bn in subsidies for the agriculture last year. Out of this amount, the biggest stake went to Croatian food and agricultural company Belje, a member of Agrokor Group, which received HRK 83mn. An additional HRK 6.6mn went to Belje Kooperacija. Belje reached sales of around HRK 820mn last year.
Crobex (chart)
Top 10 Turnovers (table)
Top 5 Winners (table)
Top 5 Losers (table)
Croatian Equity Daily (table)
*****
To view the original document, please click on the link below:
http://reports.aiidatapro.com/CBB/ErsteSecurities/Daily_19_08_2008.pdf
*****
Copyright: Erste Securities Zagreb, Croatian Equity Daily, Thursday, May 31, 2007Sales : Zeljka Kajkut-Brni Phone: +385 62 37 2811 kajkutz@erstebank.comDamir Eror Phone: +385 62 37 2813erord@erstebank.comResearch: Damir Cukman Phone: +385 62 37 2820 cukmand@erstebank.comDavor Spoljar Phone: +385 62 37 2825 dspoljar@erstebank.com
*****
AII Data Processing does not endorse in any way, the views, opinions or recommendations expressed above. The use of the Information is subject to the terms and conditions as published by the original source, which you have to read and accept in full prior to the execution of any actions taken in reliance on Information contained herein.
 | SeeNews SeeNews is a business and financial news and information provider which brings its visitors and customers access to detailed coverage on the fast-growing companies, economies and markets of ten Southeast European nations. |
Search for: news |
Search for: deal |
Search for: market |
Search for: company |
Search for: report |
Search for: chart |
Search for: sales |
Daily 19 08 2008.pdf, 202 Kb
