Croatian bulker owner Atlantska Plovidba has turned around a 2016 loss in the first half of this year.
The company said net profit was HRK 40.7m ($6.49m) to 30 June, against a deficit of HRK 20.8m a year ago.
Revenue grew by 20.6% to HRK 217.8m, while expenses fell 23.8% to HRK 180.4m, it told the Zagreb stock exchange.
The owner has 16 ships and 279 staff.