BANJA LUKA (Bosnia and Herzegovina), July 31 (SeeNews) – Bosnian coal mining and energy producing company RiTE Ugljevik [BANJ:RTEU-R-A] said on Tuesday it swung to a net profit of 3.2 million marka ($1.9 million/1.6 million euro) in the first half of 2018, from a loss of 17.9 million marka in the same period a year earlier.
RiTE Ugljevik's operating income jumped 43.4% on the year to 72.4 million marka in the six months through through June, while operating costs decreased by 6.2% to 68.5 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)