Montenegro, Jugopetrol recorded a net profit in the amount of 4.91 million euros in the first nine months of 2021

, SEE Energy News

Montenegrin fuel retailer Jugopetrol recorded a net profit in the amount of 4.91 million euros in the first nine months of 2021, compared to 2.24 million euros net profit recorded in the same period last year.

The company’s operating revenues increased by 76.5 % in the first nine months of 2021 and amounted to 112.17 million euros, while its operating expenditures also rose by 73.5 % and amounted to 106.6 million euros. Purchase cost of goods sold amounted to 94.36 million euros, salaries, benefits and other personnel expenses amounted to 1.93 million euros, depreciation and provisions to 2.56 million euros, while other operational expenses amounted to 7.19 million euros.

Total assets of Jugopetrol at the end of September 2021 amounted to 116.58 million euros, which is 10 % more than in the same period in 2020. Retained earnings of the company amounted to 17.1 million euros. Long-term liabilities amounted to 1.96 million euros, while short-term liabilities amounted to 21.06 million euros.

The largest shareholder in Jugopetrol is Greek Hellenic Petroleum International, which owns 54.35 % of the shares since 2002. Other shareholders with significant number of shares are: collective custody account 5 with 9.25 %, collective custody account 1 with 8.64 %, and collective custody account 8 with 3.29 %.