Podravka

Suppliers say are interested in their, Agrokor's stability

Croatia's five biggest food companies, big suppliers of the Agrokor retailer, met on Monday and concluded that it is necessary to maintain the stability of their companies as well as Agrokor, their biggest sales channel on the domestic market, Kras management board chairman Damir Bulic said.

Podravka finds it vital that Agrokor maintain its stability

Podravka is a strategic partner of Agrokor and the Koprivnica-based food company considers it vital for Agrokor to maintain its stability, whereas keeping the market positions of Konzum and Mercator, retailers within the Agrokor Group, is strategically essential not only for Podravka but also for the whole food-producing industry in Croatia, Podravka said in a press release on Friday.

Marin Pucar appointed as new CEO in Podravka food concern

Marin Pucar is the new Management Board chairman of the Podravka food concern and will take the helm of the company after Zvonimir Mrsic's term expires at midnight on Thursday.

Croatian PM says gov't has no influence on appointment of Podravka managers

Prime Minister Andrej Plenkovic said on Thursday the appointment of new management board members in the Podravka food company was in the remit of the supervisory board and that neither he nor the ministers had any influence on talks at the supervisory board.

Podravka revenues up 15 pct, profit up 54 pct

The Podravka Group that operates in two main business segments: food and pharmaceuticals, generated a net profit in 2016 of HRK 182.4 million, which is 54.7% more than in 2015 without taking into account the one-off effect of consolidating the Zito company or deferred tax returns of Belupo in 2015, according to the company'y unaudited financial statements released on Tuesday.

Croatian food company Podravka opens EUR 4 mn factory in Tanzania

The Croatian food company Podravka on Wednesday opened a food seasonings factory in Tanzania worth four million euros, the Koprivnica-based company said.

Podravka reports record sales on Russian market in 2016

Podravka generated record sales in Russia in 2016 and regards the country as its main market over the next five years, expecting two-digit growth rates, the Croatian food company said on Wednesday marking 50 years of its presence on the Russian market.

Podravka food company attends FHC China trade show

One of the participants in this year's international food and hospitality trade show FHC China was the Croatian food company Podravka whose most popular products are already available in shops in Beijing and Shanghai.

ZSE Crobex index down, high turnover in block transaction with Podravka shares

The Zagreb Stock Exchange (ZSE) Crobex index slid by 0.29% on Tuesday to close at 1,933.55 points, while the Crobex10 remained unchanged at 1,125.59 points.

Podravka Group posts net profit of HRK 142.2 mn

The Podravka food and pharmaceuticals group generated a net profit of HRK 142.2 million in the first nine months of 2016, which was an increase of 8.6% over the same period in 2015, the Koprivnica-based company said on Tuesday.

Podravka sells Lipicki Studenac to Radenska

The Croatian food company Podravka has signed a deal with Slovenia's Radenska beverages producer on the sale of its Lipicki Studenac soft drinks factory, with Kofola CeskoSlovensko acting as the guarantor, Podravka said in a statement on Tuesday without stating the value of the deal.

EUR 123m syndicated loan approved for Podravka Group

The Podravka food company signed on Tuesday a contract with the European Bank for Reconstruction and Development (EBRD) and four business banks on a syndicated loan totalling EUR 123 million to a period of six years with a favourable interest rate for refinancing existing loan liabilities, capital investments and possible acquisitions.

Podravka signs deal with Adriatic Group for distribution of its products in Europe

Croatia's Podravka food company has signed an agreement with the Vienna-based Adriatic Group for the distribution and sale of its products on EU markets using the group's channels, the Koprivnica-based company said on Monday.

Polancec et al. acquitted of "Spice" graft charges; 4 guilty of SMS loan

Former Deputy Prime Minister Damir Polancec et al. in a corruption case dubbed Spice were on Monday acquitted of corruption charges of defrauding the Koprivnica-based Podravka food company of HRK 400 million (approx. 53.3 million euros), however, four of the defendants were found guilty of damaging Podravka through lending 65 million to the Split-based SMS food company, according to a ruling delivered by the Zagreb County Court.

Labour Party to organise protest against Podravka sale

The Croatian Labour Party announced at a news conference in Koprivnica on Monday that they would organise a protest in Zagreb on Saturday against the sale of the Podravka food company and other strategic Croatian companies.

Lawmakers shocked with govt decision to sell strategic companies

"A decision is being made about the sale of those companies via a conference call yet we have a whole set of examples of how to save billions of kuna through quality management of the existing state property. This is a chaotic situation," said Lovrinovic.

Croatia takes Podravka, Koncar, CA, CO ....off list of strategic companies

Explaining the latest developments, Finance Minister Zdravko Maric told Hina on Wednesday that this decision was in line with the government's plan to ensure 1.6 billion kuna for the budget from the activation of state property until the end of this year.

Podravka CEO says rumours about sale of state-owned shares not affecting business operations

Podravka wrapped up 2015 with profits amounting to nearly HRK 157 million, of which 57 million is expected to cover losses carried over and 5 million should go to statutory reserves.