Brokerage House: NIS Achieves Record Results, Income 90% Higher

In the first nine months of this year, Naftna Industrija Srbije (NIS) realized record results, the income increased more than 90%, announced the brokerage house Momentum Securities.

The increased income of NIS, as said, amounted to RSD 380.8 billion due to the lower costs of the production and the higher share of cheaper Russian oil in the processing, the increase of the oil price in the market by 56%, but also the growth of the turnover by 11%.

The net profit in that period amounted to RSD 69.4 billion, and the result would be even better if there were no measures of the Government of Serbia limiting the fuel prices.

The negative impact of those measures has reduced the profit by RSD 8 billion, and the exchange rate differences reduced it by RSD 2.2 billion.

– If that trend continues in the fourth quarter, the shareholders can expect a dividend with a record yield of close to 20% next year – Momentum said.

NIS a.d. Novi Sad

Momentum Securities a.d. Novi Sad

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