August 3 (SeeNews) - Montenegro's majority state-owned power transmission system operator Crnogorski Elektroprenosni Sistem [MNG:PREN] said its net profit more than doubled to 1.7 million euro ($2 million) in the first half of 2017 from 784,732 euro in the like period of last year.
The revenue of the company went up 9.1% on the year to 15.5 million euro while operating costs rose 5.2% to 14.1 million euro, Crnogorski Elektroprenosni Sistem (CGES) said in a financial statement filed with the Montenegro Stock Exchange.
Operating profit grew to 1.4 million euro from 805,520 euro, CGES said.
Following are details of CGES' performance (in millions of euro):
|
H1'17 |
H1'16 |
Operating costs |
14.140 |
13.440 |
Revenues |
15.532 |
14.245 |
Operating profit |
1.392 |
0.806 |
Net profit |
1.699 |
0.785 |
($ = 0.844317 euro)