In the first quarter of this year, Jamnica achieved a profit before tax of 21.6 million kuna, compared to a loss before tax of 23.5 million kuna in the same period last year, according to the unaudited unconsolidated financial report of Jamnica published on the Zagreb Stock Exchange.
In the first quarter, Jamnica generated total revenue of 215.3 million kuna, which is 13 percent less than in the same period last year.
The decrease in total revenue, as stated by the company, is largely due to a reduction in financial income because interest on receivables incurred before the opening of the extraordinary administration procedure, i.e., since April 10, 2017, has not been calculated.
Operating revenues decreased by six percent, to 212.4 million kuna, and the decline is attributed to the loss of Red Bull distribution and part of the wine assortment, as well as adverse weather conditions in the first quarter of this year.
>>> Consolidated Annual Report on the Status of the Jamnica Group for 2016 – document
Sales revenues amounted to 211.2 million kuna and decreased by 6.1 percent.
Total expenses of Jamnica in the first quarter decreased by 29 percent compared to the same period last year, to 193.6 million kuna. The decrease in total expenses was largely influenced by the impairment of receivables from related companies that Jamnica carried out in the first quarter of last year in the amount of 69.2 million kuna, as stated in the management report of Jamnica.
Data from the consolidated report show that the Jamnica Group achieved total revenues of 428.3 million kuna, total expenses of 404.9 million kuna, and a profit before tax of 23.3 million kuna.
