The unaudited net profit of the Podravka Group, the Croatian producer of food and pharmaceuticals, for the first quarter of 2018 was 69.8 million kuna (€9.43 million), compared to the 18 million kuna (€2.4 million) in net profit in the same quarter of 2017.

The Podravka Group’s revenues increased by 75.6 million kuna (€10.2 million), or 8.3 percent, to 988.9 million kuna (€133.6 million) in Q1 2018, compared to Q1 of 2017.

“Sales revenues were mostly affected by the increased sales in the Food segment due to the extensive sales and marketing activities, and the distribution expansion of individual categories,” the company said in a press release.

The food segment achieved 789.8 million kuna (€106.7 million) of sales revenues, an increase by 9.2 percent compared to the same period last year. Within this segment, all business programmes achieved an increase in sales revenues.

Podravka Group’s other segment, Pharmaceuticals, achieved 199 million kuna (€26.9 million) in sales revenues, which is a 5 percent growth compared to the same period the year before.

“The management’s focus in 2018 is to continue the organic growth, reduce debt, and improve the internal efficiency,” the company said.

(€1 = 7.41 kuna)

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