NIS registered losses worth 9.6 billion dinars in first half of 2010

The Petroleum Industry of Serbia (NIS) announced today (August 27, 2010) that it had registered losses worth 9.6 billion dinars in the first half of 2010, 29% more than in the same period in 2009.

NIS Deputy Director General Aleksej Urusov said at the presentation of the company on the Belgrade Stock Exchange that the growth of losses was a consequence of the situation in the market and drop in the Dinar exchange rate against Dollar, which had led to negative exchange rate difference in amount of 15.8 billion dinars.

- Nobody can estimate how the business results of NIS will look like at the end of the year since they will depend on the Dinar exchange rate and market conditions - he said.

Urusov said that the capital of NIS had amounted to 22.6 billion dinars at the end of June, meaning that the accounting value of the company's share was about RSD 138.

Trading in the shares of NIS on the Belgrade Stock Exchange will start on Monday, August 30th.