November 3 (SeeNews) - Croatian holding company Meritus Ulaganja [ZSE:MRUL] said on Wednesday its net profit surged to 42.5 million kuna ($6.5 million/5.7 million euro) in the first nine months of 2021 from 25.6 million kuna in the same period of last year.
Total revenue rose 13% on the year to 583 million kuna, while EBITA went up 16% to 100 million kuna in the period under review, Meritus Ulaganja said in a filing to the Zagreb bourse.
Meritus Ulaganja is the parent company of business process and technology outsourcing (BPTO) services provider M+ Group.
"This year's business growth and increased profitability are primarily the results of strong organic growth. After a series of acquisitions and integration of new members into the group, we achieved synergy effects through efficient consolidation of knowledge, expertise, and strategic activities, which was reflected in profit growth. That, once again, confirmed that our ambitious business strategy is the way to go," CEO Darko Horvat said in the filing.
Zagreb-bazed M+ Group operates also in Slovenia, Bosnia, Serbia, Turkey, Romania, Hungary, the UK and the U.S.. In the last five years, the company carried out 14 acquisitions.
The number of employees in M+ Group is more than 9,000.
Meritus shares last traded on the Zagreb bourse on Tuesday, ending at 850 kuna, unchanged compared to the previous closing price.
(1 euro=7.517 Croatian kuna)