Philip Morris’ H1 revenue in Serbia falls 1.3% y/y

BELGRADE, Serbia, August 28 (SeeNews) – Philip Morris Operations [BEL:DINN]The Serbian subsidiary of tobacco company Philip Morris International (PMI) announced that its net profit in the first half of 2020 fell by 1.3% to 2.0 billion dinars ($ 20 million / EUR 17 million).

The company’s turnover rose 3.9% to RSD 10.9 billion, while operating costs rose by 3.8% to RSD 8.5 billion, Philip Morris Operations announced on Thursday in a report on the Belgrade Stock Exchange.

Below are details of the consolidated financial performance of Philip Morris Operations (in billion dinars):

	H1’20	H1’19
operating cost	8,509	8,195
revenue	10,930	10,520
net profit	2.028	2,054

(1 euro = 118,406 dinars)