Podravka Doubles Net Income

Croatia-based food and drink giant Podravka has reported a net income of HRK44.6mn (US$7.94mn) and turnover of HRK2.46bn (US$651.87mn) for the 2008 financial year. The postings represented stellar year-on-year (y-o-y) growth of 144% and 9% respectively. In addition to pharmaceuticals, the company has heavily invested in a wide range of food and drink segments. Despite our upbeat position on the company's long-term outlook, based primarily on its diversified regional presence and strategic partnerships with a number of multinational companies, BMI believes that the severe fallout in consumer confidence enforced by the shuddering impact the global financial crisis is having on

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