date:Feb 12, 2014
Top Croatian food group Podravka said its profitability improved even as 2013 sales were flat, showing the company's cost cutting programme was paying off.
Our business results were strongly affected by the restructuring efforts and workforce reduction. We have managed to improve profit margins at all levels, the company said in a statement on Tuesday.
The company, 25-percent owned by the state, said it had offset a 7 percent drop in sales in its domestic market, which is struggling with a pro