Delta Holding of Serbia Posts 6.5% Rise in First-Half Revenue

Delta Holding DOO Beograd, Serbia’s biggest private-sector employer, reported a 6.5 percent increase in first half revenue, driven by its insurance, retail and agribusiness divisions.

The closely held Serbian company posted revenue of 39 billion dinars ($401 million). Earnings before interest, taxes, depreciation and amortization surged 24 percent to 3.6 billion dinars, according to a statement on the company’s website.

The company forecast 2012 revenues of 850 million euros ($1 billion), according to the statement.

Delta’s 2011 revenue was 1.42 billion euros, including the results of Delta Maxi Grupa through July 2011, when the food retail division was sold to Delhaize Group SA (DELB) for 932.5 million euros in cash and other customary adjustments of 318 million euros, according to the statement.

To contact the reporter on this story: Gordana Filipovic in Belgrade at gfilipovic@bloomberg.net

To contact the editor responsible for this story: James M. Gomez at jagomez@bloomberg.net

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