Croatia’s Leading Confectionery Company Kraš Sees Profits Grow Close to 70%

Croatia’s leading confectionery company KraÅ¡, who earlier this month announced that they would start exporting products to South Korea and Japan, have seen profits soar in the first nine months of the year…

In the first nine months of 2014 Kraš Grupa recorded a net profit of 4.5 million kuna (590,000 euros), which is growth of 69% compared to the same period last year, said a report posted by the Zagreb Stock Exchange on Thursday.

Kraš, which was founded in 1911 and is second largest Croatian exporter of food, had total consolidated revenues of 666.4 million kuna (87 million euros) in the first nine months of the year, which was 414,000 kuna (55,000 euros) less than the same period last year. The company says that 2014 has seen the cost-cutting trend continue, with production costs shaved. This has coincided with an increase in exports. Nearly 50% of Kraš revenue is from foreign markets. The highest growth markets have been Saudi Arabia, USA, Canada and Australia. There has been 12% growth in the first nine months of this year to those markets.