July 31, 2012

Croatia's Dukat reports 11% down in H1 2012 net profit

For the first half of 2012, the consolidated net profit of Croatia's top dairy firm Dukat dropped 11% to HRK39.8 million (US$6.5 million).

The decline in profitability was due to a host of factors, including continued deterioration of economic indicators, rising insecurity among consumers and lower disposable incomes, the company said in a bourse filing on Friday (July 27).

Dukat said it boosted sales abroad by 6.5% to HRK397.3 million (US$65 million) through June while domestic sales dropped 2.5%.

Investment spending on fixed assets at group level added up to HRK37.1 million (US$6 million) in the first half of 2012 with a major focus on production facilities in Croatia and Serbia.