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Bosnia's Energopetrol swings to H1 net profit

Author Iskra Pavlova
Bosnia's Energopetrol swings to H1 net profit Bosnia's Energopetrol, Photo:

SARAJEVO (Bosnia and Herzegovina), September 3 (SeeNews) – Bosnian fuel retailer Energopetrol [SAJ:ENPSR] said it has turned to a net profit of 902,000 marka ($504,400/461,000 euro) in the first half of 2019, from a 1.7 million marka loss a year earlier.

Operating revenues edged up 0.7% year-on-year to 83.4 million marka in January-June, while operating costs fell 2.0% to 83.5 million marka, Energopetrol said in a filing with the Sarajevo Stock Exchange on Monday.

Energopetrol shares last traded on August 20, closing flat at 9.0 marka.

Last year, Croatian oil and gas company INA [ZSE:INA] increased its stake in Energopetrol to 88.7% from 67%. INA has kept its holdings in Energopetrol unchanged since then.

The second largest shareholder of Energopertol is Bosnia's Federation government with a stake of 7.6%, while the remainder belongs to smaller shareholders.

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

(1 euro = 1.95583 Bosnian marka)