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Romgaz sees 30% profit increase in second quarter

BLACK SEA
OIL & GAS

Romgaz sees 30% profit increase in second quarter

Romanian state-controlled gas producer Romgaz Medias (SNG) reported a net profit of almost RON 300 mln (EUR 61 mln) in the second quarter of this year, up by 30% compared with the same period of 2020. Source: Romania-Insider

The company’s revenues also went up by 21% to RON 923 mln.

The growth recorded in the second quarter also balanced the first-half results after poorer results in the first quarter. In the first six months, Romgaz recorded revenues of RON 2.25 bln, up 2.6% year-on-year, and a net profit of RON 762 mln, down by 4.9% compared with the first half of 2020.

This is good news for investors as Romgaz is one of the top dividend stocks on the Bucharest Stock Exchange.

Romgaz’s shares have gained 13.6% in the last year. The investors who bought SNG shares one year ago also obtained a 6.3% gross dividend yield.

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