In the first nine months of this year the Podravka Group recorded revenues from sales in the amount of HRK 2,429.7 million, representing a 2% increase on the same period of 2003. Declared net profit after tax in the first nine months amounted to HRK 80 million, representing a 329% increase on the same period in 2003. Operating revenues increased at a faster pace than expenses.

A 5% growth in sales revenues was recorded in foreign markets, while in the Croatian market sales revenues decreased by 1% (as a result of decreased sales of pharmaceuticals, beverages and ice cream). Regarding foreign markets, sales increased in the markets of Southeast Europe (7%), Central Europe (5%), Western Europe, overseas countries and the Far East (4%). As for production segments, the sales of food and beverages grew by 2%, commercial goods by 7%, while sales of pharmaceuticals recorded a 1% fall, reflecting the situation on the pharmaceutical market in Croatia where Belupo generates the largest share of its revenues.

In terms of product groups, the increase in sales compared to the same period last year was recorded in the following groups: Food Complements – Vegeta 6%, Mill and Bakery 45%, Frozen Food 24%, Fruit and Tea 4%, Vegetables and Condiments 3%, while Lino Children’s Food, Dolcela Deserts and Kviki Snacks recorded a 1% increase. Although in the past several years the Beverages segment have recorded a large increase in sales, Podravka Beverages recorded an 18% decrease in sales compared to the same period of the previous year, which is a result of bad weather conditions which led to a decrease in sales in the overall market of beverages.