December 27 (SeeNews) - Croatian shipping company Jadroagent [ZSE:JDGT] said on Friday it is closing down its tourism business, which has been unprofitable for years.
The decision enters into force on December 31, Jadroagent said in a filing with the Zagreb bourse, adding that the share of the tourism division in its total revenue has been insignificant.
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As part of the move, the company has launched the sale of its Malinska apartment village on the Adriatic island of Krk.
The revenue from the sale will not have a significant impact on the overall business result, Jadroagent said without providing further details on the planned transaction.
The Rijeka-based company has reported that its net profit increased by 17.2% on the year to 8.5 million kuna ($1.27 million/1.14 million euro) in the first nine months of 2019.
Jadroagent shares traded up 1.4% at 1,450 kuna on the Zagreb bourse by 1125 CET on Friday.
(1 euro = 7.44527 kuna)