July 26 (SeeNews) - Croatia's Atlantic Grupa [ZSE:ATGR-R-A] said on Thursday its consolidated net profit climbed 8.8% on the year to 167.6 million kuna ($26.5 million/22.6 million kuna) in the first half of 2018.
"We leave behind a balanced half-year that has seen growth in all major markets and most business areas. The growth of profitability continues to keep pace with the growth of revenue, and we keep reducing our debt further," the vice president of Atlantic Grupa for finances, Zoran Stankovic, is quoted saying in a statement sent to the Zagreb bourse.
Total sales revenue increased 0.3% on the year to 2.5 billion kuna in the six months through June, while earnings before interest, tax, depreciation and amortisation (EBITDA) increased 5.3% to 296.4 million kuna.
In terms of the group's individual markets, sales in Croatia increased 8.3% year-on-year in the six months through June, generating 32% of the company's total revenue. Sales in Bosnia grew 6.9% and had a 8.4% share in total revenue. Sales in Serbia added 6.1% and contributed 24.0% to total revenue, while sales in Slovenia increased 5.9% and contributed 17.1%.
Sales on other regional markets jumped 9.8% through June, generating 6.8% of total sales. Atlantic Grupa suffered a substantial 32.2% drop in sales on key European markets, where 5.9% of its overall revenue was sourced. Sales in Russia and the Commonwealth of Independent States fell also by 23.6%, contributing 3.4% of total revenue, while sales on other markets plummeted 43.3% and contributed 2.4% of the total result.
Atlantic Grupa is a regional distributor of fast-moving consumer goods and a producer of functional foods and supplements. It also owns a pharmacy chain in Croatia.
(1 euro=7.40271 kuna)