Post by Peter Ellis on Oct 3, 2004 15:06:46 GMT 1
DAILY NEWS
GDP growth rate of 3.8% in second trimester
Podravka posts 52.6 million kuna profit in 1H
Nova Banka and Dubrovacka Banka to merge on October 1
Media Net: Nova TV topping the number of TV ads shown
Zagreb hosting the European Day of the Entrepreneur
BM__1GDP growth rate of 3.8% in second trimester
In the second trimester of 2004, the growth rate of the gross domestic
product (GDP) reached 3.8% yoy, which is higher than expected.
The impetus to the GDP growth was given by state expenditure which had,
after a slowdown in growth at the end of 2003 and start of 2004, picked up
in the second trimester of 2004 and compared to the same period of 2003
managed a growth of 0.7%. This is the result of the continuation of state
investment in modernisation and construction of the road infrastructure.
Although the import of goods and services is continuing to plot a slowdown
compared to earlier periods, the growth rate of the import of goods and
services in the second trimester of 5.4% had been higher than the growth
rate of the export of goods and services (3.9%).
Consumer spending, that accounts for the largest segment in the GDP
structure, has managed a growth of 3.8% yoy, which puts it at the level of
the first trimester and somewhat higher than in second half of 2003.
Toage
BM_2Podravka posts 52.6 million kuna profit in 1H
Grupa Podravka in 1H managed a gross revenue of 1.591,3 million kuna, an
increase of 2% yoy. In the structure of the gross revenue, 99% represents
sales revenue, while other revenue accounts for 1%. In 1H of 2004, Grupa
Podravka posted a net profit of 52.6 million kuna. Operational revenue
totalled 70.4 million kuna and was considerably higher than yoy (index 256),
announced the Company.
Sales revenue totalled 1.573,3 million kuna, up 3% yoy. A revenue of 827.5
million kuna was managed on the Croatian market and matches that of last
year. A growth in revenue of 6% has been recorded on foreign markets and
totalled 745.8 million kuna. This has resulted in the revenue from sales on
foreign markets increasing to a 47.4% stake in the gross sales revenue.
BM_3Nova Banka and Dubrovacka Banka to merge on October 1
After a go-ahead was given by the central bank on the merger of Dubrovacka Banka with Nova Banka, the merger process is to be completed by next weekend. The legal merger is to be conducted on Oct. 1, 2004 and the merging
of the information systems of the two banks will be carried out during the
weekend of Oct 1 and 3, announced Nova Banka. Once the merger is completed
the newly formed bank will be working under the name and logo of Nova Banka,
which is to become the legal successor of Dubrovacka Banka.
BM_4Media Net: Nova TV topping the number of TV ads shown
According to research conducted by Media Net, Nova TV continues to hold the
largest segment of the Croatian TV ads market in respect of the number of TV
ads broadcast. Despite the fact that since the start of the year the segment
of Nova TV had been cut from 75 to some 60 percent, Nova TV is still showing
the largest number of ads. RTL Televizija, which came on the air at the end
of April, is currently holding 15 percent segment of the TV ads market,
while HTV has been holding at 25% for some time now.
According to estimates, the value of ads broadcast in August was about 16.2
million euros, of which about three fifths went to Nova TV. However, since
the estimates have been made based on the ad tariffs published by TV
networks, the actual earnings are somewhat different, as there exist special
discount prices for clients placing ads.
BM_5Zagreb hosting the European Day of the Entrepreneur
For the first time ever, Zagreb is to host the European Day of the
Entrepreneur (EDE) on October 5 and 6, a two-day conference entitled The
Inciting of Social Cohesion through social entrepreneurship which will be
held at the Vatroslav Lisinski concert hall.
The Conference is to bring together experts from 12 countries and about 700
participants spanning from entrepreneurs, representatives of the
authorities, financial institutions, business centres, students etc. All of
them are to exchange experiences, present ideas and solutions aimed at
helping an accelerated development of entrepreneurship in Croatia.