The Podravka Group posted a record high net profit of HRK 398 million kuna in 2015, which was four times higher than in 2014, with an increase in the revenues of nearly 8 per cent, according to the financial statement issued by this Koprivnica-based food and pharmaceutical group.
In 2014, the company's net profit was HRK 92.5 million and it rose to 398 million kuna in 2015 on the back of positive effects from the acquisition of the Slovenian Zito company and tax incentives thanks to the construction of new factories for the group's Belupo pharmaceutical segment.
The group's sales revenues in 2015 increased by 7.8% to HRK 3.78 billion.
"The last year will be remembered in Podravka's history as a year marked by a series of significant projects. We finalised the biggest acquisition in Podravka's history, and that is Zito Ljubljana, which will facilitate our efforts to attain the long-awaited goal of 4.5 billion kuna in revenues and to position the Podravka Grup among the most successful food companies in the rAdria region," the management board chairman Zvonimir Mrsic was quoted as saying.
(EUR 1 = HRK 7.6)