April 26 (SeeNews) - Croatian oil pipeline operator Jadranski Naftovod [ZSE:JNAF-R-A] said on Thursday its consolidated net profit rose 1.3% on the year to 69.5 million kuna ($11.4 million/9.4 million euro) in the first quarter of 2018.
Operating income fell 5.3% to 171.0 million kuna, while operating costs shrank 8.8% to 87.4 million kuna, Janaf said in a statement filed with the Zagreb bourse.
The company's total consolidated revenue decreased 5.2% year-on-year to 173.1 million kuna in the three months through March. Revenue from business on foreign markets totalled 113.1 million kuna or 68.9% of the revenue derived from the company's core activity.
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 cubic metres of capacity for storage of petroleum products.
(1 euro= 7.42598 Croatian kuna)