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Montenegro's Jugopetrol turns to net profit in Q1 - table

Author Radomir Ralev
Montenegro's Jugopetrol turns to net profit in Q1 - table Jugopetrol headquarters; Licence: Creative Commons BY-NC-SA 2.0, by William Veerbeek

PODGORICA (Montenegro), May 10 (SeeNews) - Montenegrin oil products distributor Jugopetrol [MNG:JGPK] has turned to a net profit of 406,222 euro ($429,124) in the first quarter of 2022 from a 219,551 euro in the like period of last year, the company said.

The company's revenue more than doubled to 41.3 million euro in the first three months of 2022 from 19.2 million euro in the like period of last year, Jugopetrol said in an interim financial statement filed with the Montenegro Stock Exchange.

The company turned an operating profit of 765,598 euro from an operating loss of 15,982 euro in the first three months of 2021.

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

($ = 0.94663 euro)

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