Nis-based Philip Morris makes record profit in 2016 – Net revenues up by 81%

The Nis-based tobacco industry Philip Morris Operations continued expanding its operations based on sales in foreign markets in 2016.

The company reported that its 2016 operating revenues amounted to RSD 40.3 billion, an increase of 35.3% compared to 2015.

The company’s profitability increased by an even greater percentage, with the operating profit jumping by 78.1% to RSD 4.1 billion, whereas the net profit reached RSD 3.4 billion, a growth of 81%.

If the company continues with its dividend policy of the past years, that is, if it pays the entire profit to the shareholders, the owners of the priority shares traded at the Belgrade Stock Exchange can count on dividend of around RSD 373 per share, making for a dividend yield of around 15% at the current price of RSD 2,452, Wisebroker reports.

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