Croatia’s Podravka Group posts record results in H1 | Progresiv
Croatian food processing and pharmaceutical group Podravka has reported its highest first-half operating net profit, of 140 million Croatian Kuna (18.9 million euros). 
The result represents 16.1% growth when compared with the same period last year. It was primarily driven by sales growth in the brand's profitable product lines.
The group's liabilities were reduced by 144.1 million (19.5 million euros) in the period.
This achievement follows the company's strong performance in 2018, one of the most successful years in its history, and a record-breaking first quarter in 2019.
Sales revenue increased by 5.1% to 2.14 billion Croatian Kuna (289.9 million euros), driven by growth in both food and pharmaceuticals businesses.
The company's food segment generated 1.68 billion Croatian Kuna (227.5 million euros) in sales, up 5.1% year-on-year, with own brands products seeing a 4.8% growth.
Its fish segment recorded the highest sales growth of 17% followed by baby food, sweets and snacks (+11.2%), and the culinary division (+5%).
The highest relative sales growth, in geographical terms, was seen in Western Europe and the overseas markets (+13.2%), followed by Eastern Europe (+9%) and the Adria region (+4.8%).
The management’s focus for the rest of the year will be the implementation of its business strategy, based on three key points – focus on traditional markets where the Podravka Group is already an established manufacturer, investment in development and innovation of its private-label brands, and efficient cost management. (www.esmmagazine.com)
