November 2 (SeeNews) - Montenegro's majority state-owned power transmission system operator Crnogorski Elektroprenosni Sistem [MNG:PREN] said its net profit rose to 2.65 million euro ($3.1 million) in the first nine months of 2017 from 1.5 million euro in the same period last year.
The company's revenue went up 16.8% on the year to 25 million euro, while operating costs rose 14.2% to 22.5 million euro, Crnogorski Elektroprenosni Sistem (CGES) said in a financial statement filed with the Montenegro Stock Exchange.
Operating profit grew to 2.3 million euro from 1.7 million euro, CGES said.
Following are details of CGES' performance (in millions of euro):
| |
9-mo'17 |
9-mo'16 |
| Operating costs |
22.522 |
19.677 |
| Revenues |
24.794 |
21.359 |
| Operating profit |
2.272 |
1.682 |
| Net profit |
2.651 |
1.526 |
($=0.8588 euro)