Croatia’s 50 largest firms have grossed 11 per cent more revenue and 449 per cent more profits last year, the portal Monitor writes.

According to Financial Agency (FINA), Croatia’s biggest firms (per total revenues), earned 157.5 billion kunas (21.34 billion Euros), with profits before taxes rising from 1.46 (197.8 million Euros) to 8.14 billion kunas (1.14 billion Euros).

Analysts explain the rapid growth with the increase of revenues and conscientious management of expenditure, the portal writes.

Thirty-two firms from the list saw their revenues rise compared to previous year. Six new firms made it into the top 50 in 2010.