Nis-based Philip Morris generated fall of half year profit of 43%

The biggest local toabcco plant, Philip Morris Operations from Nis announced half year business results which show business growth but with weaker end result, Wisebroker reports.

In the first six months, company’s business profit increased by 24,2% to 13,9 billion and major result was generated at foreign markets again (app. 63% of total sales). Company’s business profit due to higher costs of materials and production services decreased by 37,2% to RSD 1,04 billion while net profit decreased by 43,1% to RSD 827,3 m.

As broker company "Wisebroker reports, the company has been paying shareholders for years entire profit through dividend and this year, priority shares holders which have been regularly traded in at the market, received RSD 219,8 per share. At the current price of RSD 2.192, these securities have dividend yield of 10%.