Franck concluded the first half of this year with a net profit of 20.79 million kuna, which is a 15 percent increase compared to the same period last year, according to the financial report of the company on the Zagreb Stock Exchange.
Total revenues of Franck for the six months of this year amount to 336.35 million kuna, which is 14 percent higher than in the same months last year, accompanied by an increase in total expenses of 14.4 percent, to 307.84 million kuna. Profit before tax of 28.51 million kuna is 9.4 percent higher than that in the first six months of last year. For such semi-annual business results, Franck notes in the report’s appendices that they are within the planned framework, as well as those achieved within their core activities of coffee, chicory, tea, spices, and snack production.
They also add that during the first half of this year, they began negotiations with equipment suppliers for the completion of the technological modernization project of several production lines and that all projects have been realized or are in an advanced stage of completion. They emphasize that, in addition to currency risks, they are also exposed to liquidity risk due to the significant increase in illiquidity in the market, which is why they are implementing certain measures. As part of the development plan this year, they note that they continue the previously initiated transformation process that involves increasing productivity and enhancing efficiency.
