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5 months ago
BRIEF-Croatia's Atlantic Grupa reports lower 2016 profit, sales
February 28, 2017 / 9:31 AM / 5 months ago

BRIEF-Croatia's Atlantic Grupa reports lower 2016 profit, sales

1 Min Read

ZAGREB, Feb 28 (Reuters) - Atlantic Grupa, a leading Croatian food company which is present in 12 European countries and exports to more than 40 markets worldwide, said on Tuesday:

* Its 2016 sales fell 5.5 percent to 5.1 billion kuna ($726.50 million) due to depreciation of the Russian rouble and Serbian dinar and the end of a cooperation agreement with Herbalife.

* Its EBITDA fell 16.4 percent to 474.4 million kuna and net profit fell to 162.8 million kuna from 242.3 million.

* It achieved its highest sales growth in its domestic market, amounting to 4.4 percent, followed by 3.9 percent growth in neighbouring Bosnia.

$1 = 7.0200 kuna Reporting by Igor Ilic; editing by Jason Neely

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