ZAGREB, July 30, 2019 - Atlantic Grupa generated an operating profit of 275.8 million kuna in the first half of 2019, an increase of 11.3% over the same period in 2018, while net profit after minority interests rose by 13.9% to 213.5 million kuna, the food company said in a financial statement on Tuesday.

Sales revenue was 2.57 billion kuna, up 3.5% from last year.

The group's Vice President for Finance, Zoran Stanković, said that a special focus had been placed on brand management and human resources.

All this has certainly contributed to the trust placed in us by the financial community, as a result of which we recorded a record high value of our share in the first half of the year, he said.

The increase in sales was mainly driven by the strategic business areas "Savoury Spreads", with 9.7% growth, and "Beverages", with 3.5% growth. With HRK 532.7 million in sales and a 20.7 percent share in total revenues, "Coffee" stood out as the largest individual category.

All markets recorded growth in distribution operations, and the most significant growth was recorded by the Croatian market, of 11.8%.

Own brands accounted for 65.4% of the total sales, the brands of the principals in distribution accounted for 26.1%, and the Farmacia pharmacy chain participated with 8.5%.

More news about Atlantic Grupa can be found in the Business section.

Atlantic Group has sold its sports and functional nutrition business Genuport from Germany, this includes brands such as Multipower, Champ and Multaben, which is just a continuation of selling its non-strategic operations, reported Atlantic on Tuesday, reports Agrobiz on April 2, 2019.

Genuport is a long-time partner of Atlantic in the distribution of sports and active nutrition products. The divested business operations accounted for 133.7 million in revenue in 2018, accounting for 2.5 per cent of the total income of Atlantic Group, the statement said.

The conclusion of the sales agreement is a continuation of the corporate strategy of disinvestment of non-strategic business operations. The drive has already included the sale of production facilities for sports and active nutrition to Aminolabs from Belgium, Atlantic announced. The actual price of the transaction has not been disclosed.

Atlantic Group’s Vice President for Corporate Activities Neven Vranković points out that Genuport, as the former distributor, is well aware of the market and potentials of the brands that are part of the segment of sports and active nutrition, making it a logical choice for a partner in this process.

"We believe that Genuport will be focused and committed to continuing to develop brands with long-standing tradition. We expect it will use the knowledge in distribution it has to be even better positioned in this fast-growing market segment," Vranković said.

As explained in the statement, Multipower has been a well-known brand for over 40 years and is one of the European leaders in the sports and active diet market, known for its high-quality protein products and dietary supplements for athletes and active users. It was part of the Atlantic Group system since 2005, together with the accompanying brands Champ and Multaben, well-known to the German and European consumers.

Genuport is one of the leading German distribution companies with a long reference list of partner companies such as Wander, Mondelez, Snyder's Lance, Weetabix and many others, according to the statement.

More news on the Atlantic Group can be found in the Business section.

Translated from Agrobiz.hr.

Velika Gorica lies just outside of the Croatian capital of Zagreb, and while you might think very little of this town when passing through, which is the only thing most people actually do, things aren't always as they seem, economically speaking, anyway.

While it's true that most people from Velika Gorica earning their money in nearby Zagreb, it would appears that net salaries are, on average, higher than they are in the heart of the capital city.

As Poslovni Dnevnik writes on the 8th of November, 2018, over recent months, Velika Gorica has been mentioned in the media mostly because of the brilliant results of their football team, but after some likely surprising data published by the Financial Agency (FINA) there are more reasons for satisfaction in that otherwise all but entirely overlooked town.

Namely, Velika Gorica comes first in the whole of the Republic of Croatia when it comes to the average salaries of workers and their respective productivity. Net salaries are on average higher than the average salaries in both Zagreb and Rijeka, two large cities, reports RTL.

As previously stated, most people living in Velika Gorica earn their wages in Zagreb, but the close proximity of the country's capital city, the close proximity of Zagreb's Franjo Tudjman International Airport, and the apparently quick administration are some huge advantages for this town, which boasts more than sixty thousand permanent inhabitants. The Lidl chain, which is recording enviable traffic in billions of kuna, also has its headquarters here, and the arrival of the well-respected and very powerful Atlantic Group has also been recently announced.

In addition, as RTL reports, Croatian Post (Hrvatska Pošta) will also have its headquarters and logistics center in Velika Gorica. Croatian Post justified this move with the fact that this location is a strategically important place for the continued development and the improving of shipment processes, as Velika Gorica is very close to the Franjo Tudjman Airport, not far from the Zagreb - Sisak motorway, and the Zagreb - Velika Gorica fast road.

Make sure to keep up to date with our business page for more information like this.

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