In the first 9 months Podravka records profit of HRK 85 million

In the first 9 months of this year the Podravka Group recorded HRK 2.5 billion in sales revenues, a 3% increase over the amount realised in the same period in 2004. The net profit made in the first nine months of this year amounts to HRK 85 million, which is 7% more than in the same period of 2004.

Revenue from sales on foreign markets grew by 4%, while the Croatian market recorded a growth of revenues of 2%. In foreign markets, it should be emphasised that sales grew in the markets of Southeast Europe (7%), Eastern Europe (22%), and Western Europe, transoceanic countries and the Far East (8%), while in the market of Central Europe a drop in sales of 4% was recorded, which nevertheless represents a positive shift in comparison with the previous accounting period when the drop in sales amounted to 10%. As for Strategic Business Areas, the sales of Food and Beverages grew by 4%, while sales of drugs remained at the same level as last year, which is to a great extent due to the situation in the Croatian market of pharmaceuticals, where the largest part of Belupo’s revenues are made.

The following product categories experienced a growth in sales compared with the same period last year: Meat and Meat Products 20%, Podravka Dishes 6 %, Consumer Goods 14 , Fruit and Vegetables 2.

After the new design of Vegeta was launched in the second quarter, which gave Vegeta a new, more modern appearance, in the course of the third quarter intensive work was carried out on completing the introduction of a new Vegeta-branded product – Vegeta Mediteran. This is expected to strengthen the Vegeta brand both on the domestic and foreign markets. In fact, foreign markets account for 80% of the total sales of Vegeta.

The best growth, amounting to 20% over the same period last year, was realised in the sales of meat and the meats programme. In the observed period, in addition to tinned meat products, Podravka began exports of the sausages range, and the production of beef goulash for Australia and the American market, as well as the production of beef goulash in Macedonia. A new product was also launched – Wurstel 2+2 duopack. Besides the stated categories, growth was also recorded by Podravka Dishes, Fruit and Vegetables (a new product, Podravka Ketchup, was launched) and by Consumer Goods.