October 26 (SeeNews) - Montenegro's majority state-owned power transmission system operator Crnogorski Elektroprenosni Sistem [MNG:PREN] posted a net profit of 1.5 million euro ($1.6 million) in the first nine months of 2016, 58% less than in the same period last year.
The company's operating income reached 21.4 million euro through September, down by 8.2% from last year, while its operating costs rose to 19.7 million euro from 18.8 million euro, CGES said in a filing with the Montenegrin stock market.
It also posted a loss of 53,660 euro from other activities, versus a profit of 130,950 euro from other activities a year earlier.
The state owns a 55% stake in CGES.
($=0.915591 euro)