The milling and bakery industry Mlinar achieved a profit of 6.1 million kuna last year, a decrease compared to the previous year when the profit was 10.6 million kuna, according to the unconsolidated financial report of the company published today on the Zagreb Stock Exchange.
Mlinar’s total revenues during this period reached 292.5 million kuna, an increase of 8.7 percent. Sales revenues, which constitute the majority of income, increased by 4.7 percent to 283.29 million kuna.
At the same time, total expenses also increased by 10.9 percent to 286.47 million kuna.
The growth in revenues and expenses is a result of development and investments in the retail chain business, an increase in business volume in the wholesale segment, and the opening of new foreign markets, the company states.
In 2012, Mlinar invested 62.4 million kuna primarily in the renovation and opening of new sales outlets in Croatia and in a new modern bread factory in Zagreb, the management report further states.
Mlinar currently operates in the areas of continental Croatia, Kvarner, and Istria through three bakery facilities in Zagreb, Križevci, and Poreč, as well as 106 retail outlets in the same area. In the second half of 2012, it established a subsidiary in Slovenia and Hungary and has opened six retail outlets in Slovenia, with the opening of retail outlets in Hungary planned for the end of February this year, the report emphasizes.
Since the second half of 2009, Mlinar has been majority-owned by Pekara Kruna from Osijek.
