November 13 (SeeNews) - Croatian ice cream and frozen food company Ledo [ZSE:LEDO], a member of the ailing Agokor concern, said its consolidated net profit grew to 368.5 million kuna ($55.8 million/49.6 million euro) in the first nine months, from 318 million kuna in the like period of last year.
Ledo's consolidated operating revenue rose to 1.936 billion kuna in the first nine months of 2018, from 1.805 billion kuna a year earlier, it said in an interim financial statement posted on the website of the Zagreb Stock Exchange.
The company's consolidated sales revenue also increased - to 1.91 billion kuna from 1.792 billion kuna in the like period last year.
In April last year, the government seized control of Agrokor from its owner Ivica Todoricunder special legislation designed to prevent the collapse of the concern.
On July 4, Agrokor creditors holding 80.20% of total claims against the concern voted to uphold a settlement deal which envisages the establishment of a new Agrokor concern owned by the creditors, in which the largest individual shareholder will be Russia's Sberbank with a 39.2% stake.
Bondholders will have a 24.9% stake, local financial institutions 15.3%, Russia's VTB bank 7.5%, while suppliers will hold 4.7%. Among the Croatian suppliers of Agrokor, diversified conglomerate Adris Grupa [ZSE:ADRS] will have the largest share in the new concern with a 1.4% stake.
(1 euro = 7.42457 kuna)