November 14 (SeeNews) - Croatian blue-chip shipping company Jadroplov reported on Wednesday a nine-month net profit of 55.9 million kuna ($11.2 million/7.6 million euro) versus a net loss of 3.4 million kuna in the same period a year earlier.
The company turned to profit thanks to increased freight rates on the global maritime market, the addition of a new ship to its fleet and the sale of an older vessel, Jadroplov said in a statement to the Zagreb Stock Exchange where it is listed.
The company’s total revenue for the nine months through September rose to 270.6 million kuna from 210.2 million a year earlier.
Jadroplov is one of the 30 members of the bourse’s blue-chip Crobex index. The company's stock traded at 800 kuna on Wednesday, down from Tuesday’s close of 808 kuna.
The company issued the following details:
| (In millions of kuna) |
Jan-Sept’07 |
Jan-Sept’06 |
| Net profit/loss |
55.9 |
-3.4 |
| Pre-tax profit/loss |
55.9 |
-3.4 |
| Sales in Croatia |
5.6 |
5.2 |
| Sales abroad |
247.6 |
192.7 |
| One-off revenue |
7.5 |
0.5 |
| Total revenue |
270.6 |
210.2 |
| Total costs |
213.7 |
214.7 |
(1 euro=7.3495 Croatian kuna)