Ledo’s Revenues Increased to 192 Million Kuna, Loss of 1.7 Million

Ledo, a company within the Agrokor group, recorded a loss of 1.7 million kuna in the first quarter, significantly lower than in the same period last year, while total revenues increased by 8.9 percent to 192.3 million kuna, according to Ledo’s unconsolidated financial report.

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In the same period last year, the company’s loss amounted to 23.5 million kuna, as stated in the report published on Friday on the Zagreb Stock Exchange website.

In the first quarter, sales revenues recorded an annual growth of 17.9 percent, reaching 88.4 million kuna. The strong growth in sales revenue is primarily attributed to the ‘Frozen Food’ group, which achieved a growth of 33 percent.

Total expenses of Ledo in the first quarter amounted to 185.5 million kuna, which is 3.5 percent less than in the same period last year.

Thus, a profit before tax of 6.9 million kuna was achieved, while a loss of 15.7 million kuna was recorded in the same period last year.

Total revenues of the Ledo Group amounted to 353.56 million kuna in the first quarter, which is 2.2 percent higher than in the same period last year.

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At the same time, the consolidated sales revenues of the Group increased by 8 percent year-on-year, reaching 351 million kuna. Significant growth in sales revenue was achieved by the ‘Fish’ group at 20 percent, and the ‘Fruits and Vegetables’ group at 9 percent.

Expenses in the same period decreased by 2.4 percent to 353.9 million kuna.

The loss of the Ledo Group after taxation amounted to 11.8 million kuna, less than the 27.6 million kuna in the same period last year.