CROATIAN ELECTRICITY BOARD RECORDS 53 MILLION KUNA PROFIT

ZAGREB, July 12 (Hina) - The Croatian Electricity Board (HEP) finished the previous financial year with a profit of 53.3 million kuna (DM 15.2 million), director Damir Begovic told a session of the HEP General Assembly on Friday. The profit was a result of the consolidated balance conducted by the audit house Price Waterhouse of Budapest, whose report was adopted by the HEP General Assembly at this session. "The period of the financial consolidation of HEP is over and conditions have been created for a new investment cycle," Begovic said. At the instigation of the management and the supervisory board, the General Assembly decided to earmark more than 50 million kuna (DM 14.3 million) for the reconstruction of war-damaged HEP buildings. According to the report, 45.3% of electric power was produced by hydroelectric plants and 44% by the Krsko nuclear power plant while 10.7% was imported. Following a Croatian military operation which crushed Serb rebellion in central Croatia last summer, HEP regained possession of several important hydroelectric power plants such as Obrovac, Miljacka, Golubic and Krcic, and repaired power-transmission lines in the area. (hina) vm jn 121724 MET jul 96