September 4 (SeeNews) - Croatian ice cream and frozen food company Ledo [ZSE:LEDO], a member of the ailing Agokor concern, said its consolidated net profit jumped to 222.6 million kuna ($34.6 million/30 million euro) in the first half, from 147.1 million kuna in the same period of last year.
Ledo's consolidated sales revenue rose to 1.15 billion kuna in the first half of 2018, from 1.03 billion kuna a year earlier, it said in an interim financial statement late on Monday.
The company's total revenue also increased - to 1.18 billion kuna from 1.07 billion kuna in the like period last year.
Ledo's long-term liabilities decreased to 126.7 million kuna in January-June from 144.2 million kuna a year earlier, while short-term debt rose to 4.4 billion kuna from 4.2 billion kuna.
In April last year, the government seized control of Agrokor from its owner Ivica Todoric under 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.
(euro=7.43072 kuna)