February 28, 2018 / 4:19 PM / in 8 months

BRIEF-Croatian food group Podravka's 2017 net profit falls 70 pct

ZAGREB, Feb 28 (Reuters) - Croatian food group Podravka :

* Net profit fell to 54.4 million kuna, from 182.4 million kuna in 2016.

* Sales in 2017 fell 1.8 percent to 4.11 billion kuna ($673 million) due to the divestment of the group’s beverages business and some inconsistencies in income data on the Russian market.

Podravka sells some products through the retail chain of troubled food group Agrokor, which is trying to avoid bankruptcy, and Podravka said markets in southeastern Europe had been hit but did not elaborate.

* Podravka’s pharmaceuticals business reported 2017 revenues of 867.5 million kuna, up 6.4 percent up from 2016. ($1 = 6.1070 kuna) (Reporting by Igor Ilic; Editing by Susan Fenton)

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