Sojaprotein’s net income grows 44% to RSD 1.1 billion

Becej-based Sojaprotein (SJPT), the biggest regional soybean processor, has announced its financial results for 2011, which were generally in line with expectations of the market participants.

The company sales were worth RSD 11.7bn, down by 18.2% from 2010, but the sales from the company’s core-business were slightly up (RSD 9.8bn).

Sojaprotein`s earnings from operating activities (EBIT) fell by almost 30% to RSD 1.2 billion, while the net income jumped 44.3% to RSD 1.14bn, thanks to a drop in financial expenses.

Shares in Sojaprotein on the Belgrade Stock Exchange closed the trading at RSD 553, almost unchanged since the beginning of the year. At the last price, the company’s market cap is RSD 8.2bn (EUR 74.4m).