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Croatia’s share indices extend gains thanks to Podravka, Adris
Ljubljana share indices end week up, Telekom Slovenije leads gainers
Oct 31, 2017 18:48 EEST
October 31 (SeeNews) - Three listed members of Croatia's ailing privately-held concern Agrokor reported a net loss in the first half of 2017, while as many enjoyed a net profit, preliminary consolidated data the companies have filed with the Zagreb bourse showed on Tuesday.
News stand operator Tisak [ZSE:TISK] suffered the biggest net loss of 104.12 million kuna ($16.1 million/13.8 million euro) in the six months through June, compared to a slim 13 million kuna profit in the same period last year, according to Tisak's estimated results.
Edible oil, mayonnaise and margarine producer Zvijezda [ZSE:ZVZD] followed with a consolidated loss of 74.3 million kuna, compared to a profit of 10.94 million kuna a year earlier, while meat processing company PIK-Vinkovci [ZSE:PIVK] recorded a reduced net loss of 2.7 million kuna, compared to a 8.7 million kuna loss in January-June last year.
The largest consolidated net profit in the first half of 2017 was recorded by ice cream and frozen food company Ledo [ZSE:LEDO], of 147.1 million kuna, followed by soft drinks and water bottling company Jamnica [ZSE:JMNC] with 58.8 million kuna and food company Belje [ZSE:BLJE] with 11.36 million kuna.
Detailed H1 results follow (in mlns of kuna):
Agricultural conglomerate Vupik [ZSE:VPIK] was the only company among Agrokor's listed units to submit a non-consolidated first-half financial report. The company turned to a non-consolidated net profit of 1.09 million kuna, compared to a loss of 3.3 million kuna last year.
An audit of the financial reports of the listed seven companies as well as retailer Konzum and Pik Vrbovec revealed earlier this month that they recorded an aggregate consolidated net loss of 3.3 billion kuna in 2016.
Agrokor's retail companies alone recorded a consolidated loss of 2.24 billion kuna last year, agricultural companies saw a loss of 329 million kuna and food companies were 741 million kuna in the red, the results of an audit of the financial results of the nine companies conducted by PricewaterhouseCoopers LLP show.
The biggest loss-maker among retail companies in 2016 was Konzum with a consolidated net loss of 1.9 billion kuna, followed by Tisak with a loss of 388 million kuna.
(1 euro=7.52362 kuna)
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