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Bosnian arms maker Igman's net profit down 41% y/y in H1

Bosnian arms maker Igman's net profit down 41% y/y in H1 Photo: VMZ / All rights reserved.

SARAJEVO (Bosnia and Herzegovina), July 25 (SeeNews) - Bosnia's majority state-owned arms manufacturer Igman Konjic [SAJ:IGKC] said its net profit fell 40.5% on the year to 2.8 million marka ($1.5 million/1.4 million euro) in the first half of 2022.

Operating income dropped 31.4% year-on-year to 47 million marka in the first six months of 2022, while operating costs decreased 37.6% to 44.6 million marka, the company said in a filing with the Sarajevo Stock Exchange (SASE) on Friday.

Financial revenue rose 47.2% to 1.7 million marka in the January-June period, whereas financial costs increased to 741,217 marka from 254,417 marka in the first six months of 2021.

Bosnia's Federation government owns a 51% stake in Igman, while the remainder is controlled by investment funds and individual shareholders.

Igman's shares last traded on the SASE on July 8, when they closed 2.44% lower at 160 marka, bourse data showed.

The Federation is one of two autonomous entities that form Bosnia and Herzegovina. The other is the Serb Republic.

(1 euro = 1.95583 marka)

 
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