Ericsson Nikola Tesla posts HRK 28 million FY net profit

Croatian telecommunications equipment manufacturer Ericsson Nikola Tesla achieved a net profit of HRK 28 million in 2011, according to a company report published on 21 February on the Zagreb Stock Exchange. A year earlier, the profit was HRK 24.1 million. Orders fell by 11 percent and sales revenues were 4 percent down over the previous year. There was revenue growth in the markets of the region and in Ericsson's market, but this was offset by decreased sales in the domestic market and the Commonwealth of Independent States. The report also states that the company is proposing an ordinary dividend per share of HRK 20.00 ordinary and an extraordinary dividend of HRK 150.00.