Higher freight rates boost Croatia’s Jadroplov net profit in Jan-Sept

Sales revenue rose to 215.3 million kuna from 137.8 million kuna, Jadroplov said in a filing to the Zagreb bourse.

Excluding the exchange rate differentials calculated from its operations abroad, its net profit for the January-September period stood at 76.8 million kuna, up from 20.2 million kuna in the same period of last year.

The company's operating revenue went up to 227.6 million kuna in the period under review from 145.9 million kuna a year earlier, while operating costs increased to 215.3 million kuna from 137.8 million kuna.

At the end of September, its fleet consisted of five ships with a total 242,727 DWT and average age of 15.9 years but on October 24, Jadroplov took delivery of liquefied petroleum gas tanke,r Marko Marulic, built by Japan's Sasaki Shipbuilding, which the company bought for $25.15 million from Swiss company Irus Holding. It is the first LPG carrier owned by a Croatian shipping company.

Jadroplov's shares traded 0.67% higher at 75.50 kuna intraday on Friday on the Zagreb bourse.

(1 euro = 7.532 Croatian kuna)