Agrokor posts H1 2018 operating profit of €98.2 million

Agrokor posts H1 2018 operating profit of €98.2 million

Agrokor posts H1 2018 operating profit of €98.2 million Izvor: N1

In the first six months of 2018, the Agrokor food and retail group generated an operating profit of 729.7 million kuna (€98.2 million), which was 6.4 percent more than planned, said the latest monthly report released by the group’s emergency administration.

Operating costs of the group are continuing to decline and efficiency is increasing, the group reported.

Retail and wholesale business generated a revenue of 6.1 billion kuna (€821.2 million), and 70.2 million kuna (€9.4 million) of operating profits, which is 32.6 million kuna (€4.38 million) more than planned.

All the companies had lower operating costs than planned which has contributed to the positive trend in operating profits again this month, the group reported on its website.

The Konzum supermarket chain, as the largest company in retail and wholesale sector, generated a revenue of 4.1 billion kuna (€552 million), 3.1 percent more than expected, while its operating profits in H1 2018 amounted to 103.5 million kuna (€13.9 million), 63.3 million kuna (€8.5 million) more than planned.

The food production sector, which consists of nine companies, achieved better-than-expected operating results as well. The sector's revenue in H1 amounted to 3.8 billion kuna (€511.6 million) with operating profits of almost 585 million kuna (€78.8 million).

The agriculture sector recorded a revenue of 991 million kuna (€133.4 million) in that period and a profit of 74.6 million kuna (€10 million).

(€1 = 7.4 kuna)

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