Croatian Blue-Chip Electrical Equipment Maker Koncar 9-mo Cons Net Profit Rises 59% Y/Y to 61.2 Mln Kuna (8.5 Mln Euro)

"Group net profit totalled a higher-than-planned 61.2 million kuna," the company said in a statement to the Zagreb Stock Exchange where it is listed.

Total revenue was 2.201 billion kuna through September, up from 1.984 billion kuna a year earlier. Costs totalled 2.103 billion kuna compared to 1.915 billion kuna in January-September 2007.

Out of the 20 companies in the group, 18 reported profit and two posted a loss in the first nine months of 2008, the statement added.

The group won deals worth 2.138 billion kuna in January to September, including export deals worth 979 million kuna. They brought the total value of the company's book of orders up to 3.582 billion kuna.

The company’s shares were traded at 434 kuna by 1000 GMT on Wednesday, down from Tuesday's close of 440 kuna. Koncar is one of the 28 components of the 28-share Crobex benchmark index of the Zagreb bourse.

Koncar (www.koncar.hr) manufactures goods ranging from equipment for power plants and trams to portable computers and cookers.

(1 euro = 7.1802 Croatian kuna)