Kras Group, Croatia’s biggest confectionery producer, reported 4 million kuna (€539,300) net profit in the first quarter of 2018, which is a 48 percent increase compared to the first quarter of 2017, according to the company’s financial report published on Friday.

The Group’s revenues in the first quarter of 2018 were 223.1 million kuna (€30 million), a 10.2 percent increase compared to Q1 in 2017.

Total consolidated expenses amounted to 218.1 million kuna(€29.4 million), up 9.8 percent.

Foreign markets sales totalled 101.8 million kuna (€13.7 million), while domestic sales amounted to 119.4 million kuna (€16.1 millon), 19.8 million more than in Q1 2017.

The group’s gross profit in Q1 was 82.6 million kuna (€11.1 million).

In the first quarter, a trend of increasing exports was continued, with the biggest increases marked in Saudi Arabia, Australia, Canada, Bosnia and Herzegovina, and Macedonia, as well as western and central Europe.

(€1 = 7.42 kuna)

Follow N1 via mobile apps for Android | iPhone/iPad | Windows| and social media on Twitter | Facebook.