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Montenegro's Jugopetrol 2023 net profit falls 42% y/y

Apr 2, 2024, 2:46:15 PMArticle by Djordje Jajcanin
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April 2 (SeeNews) - Montenegrin oil products distributor Jugopetrol [MNG:JGPK] recorded a net profit of 7 million euro ($7.5 million) in 2023, down from 12.1 million euro in the previous year, it said on Tuesday.

Montenegro's Jugopetrol 2023 net profit falls 42% y/y
Jugopetrol headquarters; Licence: Creative Commons BY-NC-SA 2.0, by William Veerbeek

The company's revenue fell to 252.7 million euro in 2023 from 313.4 million euro in 2022, Jugopetrol said in an annual financial statement filed with the Montenegro Stock Exchange.

The company recorded expenses of 241.3 million euro, down from 296.8 million euro in 2022.

Greece's Hellenic Petroleum International is Jugopetrol's largest shareholder with a 54.4% stake.

$ = 0.9305 euro

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