PODGORICA (Montenegro), November 2 (SeeNews) – Montenegrin oil products distributor Jugopetrol [MNG:JGPK] recorded a net profit of 2.2 million euro ($2.6 million) in the first nine months of 2020, down from 2.9 euro in the like period of last year, it said.
The company's revenue went down 48.7% on the year to 40.1 million euro in the first nine months, while operating costs declined 48.9% to 61.5 million euro, Jugopetrol said in an interim financial statement filed with the Montenegro Stock Exchange.
The company booked an operating profit of 2.1 million euro, down from an operating profit of 3.7 million euro in the first nine months of 2019.
In 2019, Jugopetrol recorded a net profit of 4.3 million euro, down from 6.8 million euro in the previous year.
Greece's Hellenic Petroleum International is the largest shareholder of Jugopetrol with a 54.4% stake.
($ = 0.858988 euro)