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ZAGREB (Croatia), December 17 (SeeNews) - Croatian diversified holding Adris Grupa [ZSE:ADRS] intends to invest at least 3.4 billion kuna ($509.8 million/456.6 million euro) in its business segments in the following three years, it said on Tuesday.
Adris plans to invest most of the money, some 3 billion kuna, in the tourism segment by 2022, the holding company said in a filing to the Zagreb Stock Exchange (ZSE) after its supervisory board discussed the 2020 business plan and the strategic plan until 2022.
The healthy food segment will be allocated a 220 million kuna investment, whereas the insurance segment will see an investment of 290 million kuna, which should generate stable growth of revenue and profit, Adris said.
"All of our companies have an organic growth strategy backed by a strong investment cycle of almost 4 billion kuna," said Adris CEO Ante Vlahovic.
In the last 15 years, Adris has invested more than 10 billion kuna in its businesses.
Adris Grupa booked a net profit of 663 million kuna in the first nine months of 2019, down 12% year-on-year.
The company's preferred shares traded flat at 500 kuna by 1431 CET on ZSE. Its ordinary shares also traded flat at 570 kuna.
(1 euro = 7.44503 kuna)