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Higher freight rates boost Croatia’s Jadroplov net profit in H1

Author Annie Tsoneva
Higher freight rates boost Croatia’s Jadroplov net profit in H1 Photo: Croatia's Jadroplov

ZAGREB (Croatia), August 4 (SeeNews) - Croatian shipping company Jadroplov [ZSE:JDPL] said its net profit jumped to 72.5 million kuna ($9.8 million/9.6 million euro) in the first half of this year from 8.4 million kuna in the same period of 2021 on the back of higher freight rates for bulk cargo on the global shipping market.

Sales revenue rose to 144.3 million kuna from 78.3 million kuna, Jadroplov said in a filing to the Zagreb bourse last week.

The company's operating revenue went up to 153.1 million kuna in the period under review from 84.79 million kuna a year earlier, while operating costs increased to 95.8 million kuna from 69.2 million kuna.

At the end of the first half of 2022 its fleet consisted of five ships with a total 242,727 DWT and average age of 15.7 years.

Jadroplov's shares traded 3.60% lower at 67 kuna on the Zagreb bourse on Thursday afternoon, following strong gains of more than 10% at the beginning of this week.

(1 euro = 7.516 Croatian kuna)

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