The total sales revenue of the Podravka Group in the first year-half of 2009 amounted 1,737.6 million HRK which is 2% higher compared to the same period of the year before. Sales in the amount of 886.8 million HRK were realised on the Croatian market while foreign markets achieved 850.8 million HRK, which accounts for a growth of 4%. The highest sales growth was realised on the markets of South-East Europe, with the highest contribution from the sales growth on the market of Bosnia and Herzegovina (41%).

Sales revenue of the SBA Food and beverages amounted 1,366.6 million HRK which is 2% less, while the sales of Podravka brands in the amount of 1,177.2 million HRK maintained last year's level.

The SBA Pharmaceuticals achieved sales in the amount of 368.5 million HRK and recorded an 18% growth which was primarily contributed by the sales of both the drug distribution and pharmacy business.

Together with the sales growth of the Podravka Group of 2%, the Operating costs/expenses recorded a slight drop of 2.7 million HRK compared to the same period of the year before. Cost of goods sold (3%) showed an increase within the costs/expense structure while further optimisation of operating processes resulted in a drop of Selling and distribution expenses (-3%) and General and administrative expenses (-11%). The mentioned changes in the structure of costs/expenses had positive effect on operating profit trends, recording a growth of 13% while the operating margin recorded a positive shift of 50bp.

Further information on Podravka Group business results for the first six months of 2009 please find here .