Gosa Montaza records growth of revenues and drop in profitability – Net profit amounts to RSD 5.5 million in 2016

Gosa Montaza has published the 2016 annual report, which shows that the company continued to have higher revenues, whereas the profit dropped.

The company's operating income jumped by 15% to RSD 1.6 billion, whereas the operating profit dropped by 84.3% to RSD 4 million, primarily due to higher cost of materials, salaries and production services.

The net profit was down 18.5% to RSD 5.5 million.

The company remained relatively liquid with a solid cash position of RSD 141.4 million at the end of 2016, and a drop of net debt to RSD 80.9 million.

The Gosa stock is relatively poorly traded lately, and the market cap is RSD 542.6 million (EUR 4.4 million) at the current price of RSD 2,110, Wisebroker reports.

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