Bosnia’s Banovici coal mining co swings to net profit in H1

Anastasia Bogdanova | August 25, 2020 | Views: 61 | Source: seenews.com

Author: RMU Banovici. Licence: All rights reserved.

SARAJEVO (Bosnia and Herzegovina), August 24 (SeeNews) – Bosnian brown coal mining company Banovici [SAJ:RMUBR] said on Monday it has made a net profit of 1.2 million marka ($727,000/613,500) in the first half of 2020, compared to a 4 million marka loss a year earlier.

The company’s operating revenue rose by 11% year-on-year to 73.6 million marka in January-June, while operating costs increased by 3.5% to 71.2 million marka, the company said in a filing to the Sarajevo Stock Exchange (SASE).

Banovici’s shares last traded on the SASE on May 28, closing unchanged at 16 marka.

The government of Bosnia’s Federation owns a 69.5% stake in Banovici, according to the most recent data published by SASE.

The Federation is one of two autonomous entities forming Bosnia and Herzegovina. The other one is the Serb Republic.

(1 euro = 1.95583 marka)

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