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HUP-Zagreb Q3 profit climbs 22.7% YOY

HUP-Zagreb d.d. said its normalized net income for the third quarter came to 24.8 million kuna, a rise of 22.7% from 20.2 million kuna in the year-earlier period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin increased to 20.8% from 20.8% in the year-earlier period.

Total revenue rose 22.6% on an annual basis to 119.1 million kuna from 97.1 million kuna, and total operating expenses rose 18.1% from the prior-year period to 72.7 million kuna from 61.6 million kuna.

Reported net income came to 39.0 million kuna, compared with 31.2 million kuna in the prior-year period.

As of Oct. 27, US$1 was equivalent to 6.87 kuna.