Croatias Atlantic Grupa to retain 2011 profit.

By bne IntelliNews May 11, 2012
Croatias Atlantic Grupa said it plans not to distribute dividends for 2011 but to retain its net profit of HRK 10.4mn (EUR 1.4mn). The decision will be voted at a general meeting scheduled for June 20, the company said in a filing with the Zagreb burse. The net profit will be placed in retained profit and reinvested later on on key company projects. Atlantic Grupa has said earlier that 2011 for its business was marked by the integration of Slovenian food company Droga Kolinska into the groups operations as well as by the ensuing restructuring of its operations in order to maximally use the synergies and to manage the entire business processes as efficiently as possible. Atlantic Grupa, which distributes consumer goods across the region, acquired Droga Kolinska in 2010. Following the consolidation, Atlantic Grupa said that Croatia remained its biggest sales market with a 28.2% share, followed by Serbia with 25.5%, Slovenia with 12.7%, Bosnia with 7.6% and the remaining former-Yugoslavian markets with 6.2%. Western Europe accounted for 7.5% of Atlantic Grupas total sales last year, as a considerable growth was registered on the markets of Germany and the UK. The Russian market accounted for 3% of total sales. In 2011, Atlantic Grupa's own brands accounted for 71.6% of its sales, while the external brands from its distribution portfolio for 17.3%. The sales of the pharmacy chain Farmacia had a 5.8% share, while private label sales took a stake of 5.3%.
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