PODGORICA (Montenegro), May 14 (SeeNews) – Montenegro's majority state-owned port operator Luka Bar [MNG:LUBA] turned to a net profit of 57,449 euro ($64,511) in the first quarter of 2019 from a 161,514 euro loss in the like period of last year, it said.
The revenue of the company went down 14.2% to 1.8 million euro in the first quarter and operating costs fell 0.6% to 2.3 million euro, Luka Bar said in an annual financial statement filed with the Montenegro Stock Exchange.
The company recorded an operating loss of 434,343 euro in the first quarter of 2019.
Following are details of Luka Bar's performance (in million euro):
|
Q1'19 |
Q1'18 |
Operating costs |
2.277 |
2.291 |
Revenues |
1.842 |
2.147 |
Operating profit/loss |
-0.434 |
-0.143 |
Net profit/loss |
0.057 |
-0.162 |
($ = 0.890524 euro)