July 27 (SeeNews) - Croatian oil pipeline operator Jadranski Naftovod (Janaf) [ZSE:JNAF-R-A] said on Friday its first-half consolidated net profit rose to 145.6 million kuna ($22.9 million/19.7 million euro), from 143.9 million kuna a year earlier.
Janaf Group's total revenue fell 3.8% on the year to 357.2 million kuna in the six months through June, while total costs dropped 8.2% to 179.7 million kuna, it said in a filing with the Zagreb bourse.
The group is made up of Janaf as the parent company and two dependent cos, one of which is located in Croatia and the other in Bosnia and Herzegovina.
Revenues from the parent company's core business - oil transportation and storage of oil and oil products - totalled 352.4 million kuna, 2.7% below last years level.
Janaf generated 234.6 million kuna in revenues from its core business on foreign markets, or 68.4% of the total, 5.7% lower than last year.
The company invested 248.6 kuna in long-term tangible and intangible assets in January-June.
Janaf has terminals on the island of Krk, as well as in Sisak, Virje, Slavonski Brod and Zitnjak, and operates 622 kilometres of pipelines. It has 1.54 million cubic metres of storage capacity for oil and 202,000 cu m of capacity for the storage of petroleum products.
(1 euro=7.3961 kuna)