July 26 (SeeNews) - The consolidated net profit of Croatia's Koncar Group declined 16.2 million kuna ($2.4 million/2.2 million euro) in the first half of 2019, from 35.9 million kuna in the like period a year earlier, one of its units, electrical equipment manufacturer Koncar Elektroindustrija [ZSE:KOEI], said on Friday.
The group's consolidated operating income edged up 0.7% to 1.3 billion kuna in the January-June period, while operating costs grew to 1.3 billion kuna from 1.2 billion kuna in 2018, Koncar said in a filing with the Zagreb bourse.
Out of the 15 companies within the Koncar Group, 14 booked a profit, while one reported a loss of 19.5 million kuna.
The company's sales revenue reached 1.26 billion kuna in the first half of the year, up 5% from a year ago. Sales abroad contributed 65% to total sales revenue.
Germany led the list of Koncar's foreign markets with a 14% share in total sales, Sweden was second with 11.3%.
Koncar Group signed new contracts worth 1.7 billion kuna in the six months through June, of which 631 million kuna domestically and 1.1 billion kuna abroad.
The Koncar Group is made up of Koncar Elektroindustrija as the group leader and 14 other units.
(1 euro = 7.385 kuna)