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Croatia's M San pre-tax profit down 8.8% y/y in Jan-Sept

Author Annie Tsoneva
Croatia's M San pre-tax profit down 8.8% y/y in Jan-Sept Photo: Croatia's FINA

ZAGREB (Croatia), December 24 (SeeNews) - Croatian IT equipment and consumer electronics distributor and producer M San Grupa said its consolidated pre-tax profit fell 8.8% year-on-year in the first nine months of 2021, to 18.379 million kuna ($2.8 million/2.4 million euro).

Operating revenue rose 14.5% on the year in January-September, reaching 1.543 billion kuna, while operating costs increased 13.7% to 1.515 billion kuna, the company said in a filing to the Zagreb bourse.

M San Grupa issued a debut corporate bond [ZSE:3MSA] in the second half of July, raising 200 million kuna. It used 120.6 million kuna of the raised funds to repay loans to banks and the rest will be invested in business development, to continue the process of digitalisation and support organic growth.

The bond will mature in 2026 and is listed on the Zagreb bourse.

M San Grupa had more than 600 employees at the end of last year.

(1 euro = 7.512 Croatian kuna)

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