Leading Croatian dairy group Lura has listed on a new tier of the Zagreb Stock Exchange as part of the company’s plans to become a strong regional player in the food business.

"We have entered a new developing cycle with the aim of becoming a regional food concern. We are exploring the market of the former Yugoslavia and in central and eastern Europe, hoping to expand in the coming years," Lura management board member Ivan Klicek was quoted by Reuters as saying.

Aside from the company’s core dairy business, Lura has also recently started to produce non-alcoholic beverages and confectionery.

Lura recorded 2002 revenues of 1.73bn kuna (US$260.7m) and operating profit of 47m kuna.