Koncar posts lower H1 income, higher profit

Koncar Group generated an operating income of HRK 1.3 billion in the first half of 2016, which was 16% less than in the same period last year, while pre-tax profit increased by nearly 18%, this electrical, transport and energy company said in a financial statement on Wednesday.

Pre-tax profit was HRK 72.1 million, as against HRK 61.1 million in the first half of 2015.

Consolidated sales income fell by 17.7% to HRK 1.2 billion, with domestic sales income reaching HRK 653.2 million and foreign sales income HRK 593 million. The export-to-sales ratio was 48%.

Expenditure totalled HRK 1.2 billion.

Of the 18 companies within the group, 17 operated at a profit, while one posted a loss of HRK 5 million.

(EUR 1 = HRK 7.47)

Last update: Wed, 27/07/2016 - 14:35


More from Business

Facebook to build data centre in Denmark

The Danish city of Odense and social media giant Facebook announced on Thursday the city was to host a new European...

Freight train from China crosses 12,000 kilometres to London

The first Britain-bound freight train from China arrived in London on Wednesday, completing an 18-day trip across...

US prosecutors finalize 7.2-bln-dollar settlement with Deutsche Bank

The US Justice Department announced a 7.2-billion-dollar settlement Tuesday with Deutsche Bank over allegations that...

General Motors announces 1-billion-dollar investment in US workforce

General Motors will join other carmakers in opting to invest and hire inside the United States, the company...

Tobacco giant BAT agrees to 49-billion-dollar takeover of US rival

British American Tobacco Plc on Tuesday said it has finalized a deal to acquire 57.8 per cent of shares of US rival...