May 10 (SeeNews) - Montenegrin explosives producer Poliex [MNG:POEX] said on Friday that it recorded a net profit of 947,331 euro ($1.02 million) in the first quarter of 2024, compared to a net loss of 87,430 euro in the like period of last year.
The company's sales revenue went up to 2.5 million euro in the first three months of this year, from 748,222 euro in the comparable period of 2023, while operating costs increased to 1.1 million euro from 730,880 euro, Poliex said in a filing with the Montenegro Stock Exchange.
Local businessman Slavko Vujisic owns 82.6% of Poliex, with the remainder held by a number of minority shareholders, bourse data showed.
($ = 0.9271 euro)