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Croatia's Kras 9-mo cons net profit rises

Croatia's Kras 9-mo cons net profit rises Croatia's Kras, Photo: Sanjin Strukic/PIXSELL

ZAGREB (Croatia), October 30 (SeeNews) - Croatian confectionery producer Kras [ZSE:KRAS-R-A] said on Wednesday its nine-month consolidated net profit rose to 18.5 million kuna ($2.8 million/2.5 million euro) from 16.8 million kuna in the like period of last year.

The company’s total consolidated revenue increased 1.7% to 704.4 million kuna in the nine months through September, while expenditures expanded to 682.8 million kuna from 672.8 million kuna, Kras said in a filing with the Zagreb Stock Exchange (ZSE). 

Kras’s sales revenue grew to 696 million kuna in the January-September period from 684 million kuna in the like period of 2018.

The confectionery producer has been boosting ZSE's turnover in the last weeks. 

Trading in Kras shares picked up following last month's announcement of a planned buyout bid by the company's largest single shareholder, meat producer Braca Pivac.

Kras' shares traded at 1,050 kuna by 1458 CET on ZSE on Wednesday, unchanged from Tuesday's close. Prior to the announcement, Kras traded at below 400 kuna.

(1 euro = 7.4615 kuna)