NIS profit drops 52%, Tehnogas lifts Belex

The domestic stock market grew by 1.1% last week, as measured by the Belex15 index, while the total turnover on the BSE amounted to RSD 718.2m (EUR 6.1m).

Messer Tehnogas (TGAS) continued its trading activity strongly, with an increase of 4.6% to RSD 17,251. Total turnover amounted to RSD 32.5m. Since mid-January, the stock has seen increased turnover and surged more than 10%. The last time Tehnogas was at similar levels was in September, before the announcement of the H1 results.

The Petroleum Industry of Serbia (NIIS) was slightly lower last week at RSD 811 on a turnover of RSD 15.6m. The company announced annual results that were slightly below market expectations. The company’s profit fell by 52% to RSD 44.2bn, while shareholders could look forward to a gross dividend of around RSD 65 per share, which currently represents a dividend yield of almost 8%.

Gornji Milanovac-based Metalac (MTLC) rose 1.6% to RSD 1,550 on a turnover of RSD 4.8m. The company announced that last year ended ahead of plan, with sales and profit growth of 10%.

Insurer Dunav Osiguranje (DNOS) continued to hover around the RSD 920 mark with a turnover of RSD 3.6m, while Belgrade Airport (AERO) rose 1.5% to RSD 1,750 on low turnover. The company reported that it made a net income of RSD 250.2m last year, mainly thanks to increased revenues based on the implementation of contracted investments by the concessionaires.

WEEKLY REPORT, January 29 – February 2, 2024