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Croatia's Adris cons net profit rises 10% y/y in H1

Author Maja Garaca
Croatia's Adris cons net profit rises 10% y/y in H1 Author: Adris Grupa. License: All rights reserved.

ZAGREB (Croatia), July 26 (SeeNews) - Croatian diversified conglomerate Adris Grupa [ZSE:ADRS-R-A] said on Thursday its first-half consolidated net profit rose 10.0% on the year to 183 million kuna ($28.9 million/24.7 million euro).

The group's total revenue increased 9.0% year-on-year to 2.77 billion kuna in the January-June period, Adris said in a filing with the Zagreb bourse.

The company's tourism business experienced a boost as hotel operator Maistra saw a 13% rise in overnight stays in the review period. A rise of 5% in the average price of an overnight stay increased its operating income by 13%.

Total investments in Adris's tourism business in 2018 are expected to amount to 500 million kuna.

The group's fish farming and processing unit Cromaris booked a net profit of 12.3 million kuna in the first half of 2018, up 54% on the year. At the moment Cromaris is generating 82% of its sales abroad. The company achieved sales of 3,726 tonnes of products in the six months through June, up 12% on the year.

The group's insurance arm, Croatia Osiguranje, posted a first-half net profit of 215 million kuna. It recorded an increase in consolidated gross written premiums of 8% to 2.0 billion kuna. The insurer remains the leader on Croatia's insurance market with an overall market share of 31.9%.

(1 euro=7.40379 kuna)