Nis-based tobacco industry, Philip Morris Operations, releases H1 financial results, demonstrating strong business growth.

Operating revenue jumped 22.8% to a record level of RSD 14bn, while effective cost control produced strong profit margins. The company’s January-June operating profit surged 74.2% to RSD 3.85bn, while net profit reached RSD 3.26bn, an increase of 72.9%.

The company remained in good financial health with a cash position of RSD 10.8bn, compared to the financial debt of RSD 520m.

The company has maintained a 100% dividend payout policy over the years and the owners of preferred shares, traded on the Belgrade Stock Exchange (DINNPB), received this year an amount of RSD 483.87 per share.

Shares in Philip Morris increased today 5.5% to RSD 7,385, which is a slight drop since the start of the year.

Source : Belex, Momentum