August 30 (SeeNews) - Croatia's Fortenova Group, successor to the collapsed food-to-retail concern Agrokor, said on Monday it turned to a consolidated net profit of 318 million kuna ($50 million/42 million euro) in the first half of this year from an undisclosed loss in the same period of last year.
Consolidated revenue from continuing operations increased 35% to 12 billion kuna, the company said in a statement on its website. Its first-half adjusted consolidated EBITDA totalled 1.1 billion kuna, up 14% on the year.
“At the end of the first half of 2021, the group also had more than 1.8 billion kuna of cash on its accounts so maintaining its strong liquidity position,” it added.
“Given the excellent tourist season, the group is continuing to trade strongly in Q3, and this along with the synergies that we are achieving in Retail, and the expected closing of the Frozen Food Business Group sale to Nomad Foods will mean that the Fortenova Group’s financial position will continue to improve,” Fabris Perusko, Fortenova group’s CEO, said in the statement.
(1 euro = 7.4948 Croatian kuna)