October 29 (SeeNews) - Croatian diversified conglomerate Adris Grupa [ZSE:ADRS-R-A] booked a net profit of 663 million kuna ($98.7 million/88.9 million euro) in the first nine months of 2019, down 12% year-on-year, it said on Tuesday.
The group's total revenue increased 4% on the year to 4.9 billion kuna in the nine months through September, with sales revenue up 7% to 4.3 billion kuna, Adris said in a filing with the Zagreb Stock Exchange (ZSE).
Adris' tourism business saw an improvement in the nine-month period ended September 30, as a 6% increase in the average price of an overnight stay boosted hotel operator Maistra's net profit by 4% year-on-year to 373 million kuna. Maistra's EBITDA increased 2% on the year in the review period, reaching 552 million kuna.
The EBITDA of catering and tourism company HUP-Zagreb grew 7% to 153 million kuna.
Adris Grupa's fish farming and processing unit Cromaris saw its net profit drop by 38.3% year-on-year to 13.2 million kuna in January-September. Cromaris' sales volume totalled 6,761 tonnes in the first nine months of 2019, up 8% on the year.
The group's insurance arm, Croatia Osiguranje, recorded a 15.6% decrease in nine-month net profit to 280 million kuna. The insurer's consolidated gross written premiums fell 1% to 2.23 billion kuna. The company remains the leader of Croatia's insurance market with an overall market share of 27.9%.
(1 euro = 7.45542 kuna)