April 26 (SeeNews) - Croatian diversified conglomerate Adris Grupa [ZSE:ADRS-R-A] said on Thursday its 2017 net profit fell to 373.6 million kuna ($61.0 million/50.3 million euro), from 501 million kuna a year earlier.
The group's total revenue reached 5.54 billion kuna, while its operating income amounted to 4.99 billion kuna, the company said in a statement without providing comparative figures.
Its unit Maistra, a hotel operator, achieved net profit growth of 14% to 162 million kuna on the back of a 13% increase in operating income to 1.14 billion kuna. Maistra saw a 10% rise in overnight stays to 3.5 million.
Adris Grupa's fish farming and processing unit Cromaris boosted its sales by an annual 6.5% in 2017 to 7,334 t. It experienced a 76% rise in net profit to 23.1 million kuna.
The group's insurance arm, Croatia Osiguranje, saw a net profit of 254 million kuna in 2017, up 45% on the year. It recorded an increase in consolidated gross written premiums of 4% to 3.14 billion kuna. The company had a 33.6% share of the non-life insurance market in Croatia and a 17.9% share of the life insurance market. It remains the leader on Croatia's insurance market with an overall market share of 28.5%.
In 2015, Adris Grupa said it intends to list abroad in 2018, adding it plans to invest over 4 billion kuna in 2016-2018 in order to increase the valuation of its existing operations.
(1 euro=7.42403 kuna)
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