Montenegro’s Jugopetrol 2014 Net Profit Rises 4%

The net profit of Montenegrin oil products distributor Jugopetrol [MNG:JGPK] increased to 4.66 million euro ($5 million) in 2014 from 4.48 million euro a year ago, company data indicated.

Operating revenues fell by 5.4% to 173 million euro in 2014, while operating costs declined by an annual 5% to 169.4 million euro, Jugopetrol said in a financial report sent to the Montenegro Stock Exchange.

Jugopetrol, based in Kotor, has been a member of Greece's Hellenic Petroleum Group since 2002. The company is active in the retail and distribution of petroleum products and the wholesale of petroleum products through the operation of a storage facility at the Adriatic port of Bar and filling terminals at the airports of Tivat and Podgorica.

Source: SeeNews