April 29 (SeeNews) - Croatian diversified holding company Adris Group [ZSE:ADRS, ADRS2] said its consolidated net profit rose to 12.2 million kuna ($1.7 million/1.6 million euro) in the first quarter of this year, up 14% on the year.
EBITDA reached 173 million kuna in the period from January to March, up 4% on the year, the group said in a filing to the Zagreb bourse on Thursday.
The group boosted its total revenue 11% year-on-year to 1.19 billion kuna, as sales revenue rose 16% to 1.11 billion kuna.
Its tourism division doubled its sales revenue to 100 million kuna in the period under review.
Its net loss stood at 107 million kuna in the first quarter of this year, compared to a net loss of 106 million kuna in the same period of last year. Its insurance arm, the country's top insurer Croatia Osiguranje [ZSE:CROS], reported gross written premiums of 957 million kuna, up 14% on the year, boosting its market share by 1.5 percentage points to 29.1%.
Croatia Osiguranje's consolidated net profit in the first quarter rose 4% on the year to 134 million kuna.
The group's health food manufacturing division, Cromaris, posted a net profit of 8 million kuna for the first quarter, slightly down from a net profit 9 million kuna int he same period of last year.
The preferred shares of Adris, which are part of the two main equity indices of the Zagreb Stock Exchange, traded at 430 kuna intraday on Friday, down 0.69% on bearish market, while its ordinary shares traded 0.43% higher at 468 kuna.
(1 euro=7.569 Croatian kuna)
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