NIS realized RSD 22 billion of profit

July 31, 2012

Daily newspaper „ Danas“

During first half of this year, NIS realized a net income of RSD 22 billion despite unfavorable economic circumstances, oil price circulation and drop in value of RSD rate when compared to EUR and USD, Managing Director in NIS, Kirill Kravchenko stated while presenting NIS’s business results at the Belgrade Stock Exchange. According to him, realized profit in the first half of 2012 is approximately at the same level as net income from the first half of the previous year, which came as a result of an increase in business efficiency and reduction of expenses in all business segments. Kiril Kravchenko appointed to the fact that NIS managed to continue with positive trends in this year and that they completely realized planned investment program, despite ever worsening macroeconomic situation in the entire region and in Serbia. According to Kravcenko, several external factors will have huge influence on NIS’s business results during 2012, but he expressed his expectation that NIS will realized approximately the same results at the end of this year as they did in 2011, or maybe even better.