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Bosnia's Vispak boosts H1 net profit

Bosnia's Vispak boosts H1 net profit Author: Ken Teegardin. Licence: Creative Commons, Attribution-ShareAlike 2.0 Generic.

SARAJEVO (Bosnia and Herzegovina), September 17 (SeeNews) – Bosnian food company Vispak [SAJ:VSPK] said on Tuesday its net profit jumped to 4.3 million marka ($2.4 million/2.2 million euro) in the first half of 2019 from 3.0 million marka a year earlier.

Operating income edged down 1.4% to 22.1 million marka through June, while its operating costs dropped 7% to 17.8 million marka, Vispak said in a filing with the Sarajevo Stock Exchange (SASE).

The company's assets amounted to 54.7 million marka at the end of June, compared to 49.0 million marka at end-2018.

In May, local food, trade and textile group AS said it intends to launch a takeover bid for the remaining 4.97% stake it does not already own in Vispak. 

AS owns 95.03% of Vispak's share capital, SASE data showed.

Vispak’s product portfolio comprises coffee, chocolate, cream, instant soups and seasonings.

(1 euro = 1.95583 marka)