BANJA LUKA (Bosnia and Herzegovina), November 2 (SeeNews) – Bosnian coal mining and energy producing company RiTE Ugljevik [BANJ:RTEU-R-A] said it swung to a net profit of 3.4 million marka ($2 million/1.7 million euro) in the first nine months of 2018, from a loss of 39.4 million marka in the like period a year earlier.
RiTE Ugljevik's operating income jumped 60.2% on the year to 112 million marka in the nine months through September, while operating costs increased by 0.6% to 109.3 million marka, the company said in a filing with the Banja Luka bourse.
The Ugljevik coal mine and the adjacent power plant are located in the northeastern part of the Serb Republic, which together with the Federation makes up Bosnia and Herzegovina.
Ugljevik said earlier it expects to produce 1,780 GWh of electricity in 2018.
(1 euro = 1.95583 marka)