Montenegrin rail freight carrier Montecargo turns to profit in H1 - table

The company recorded an operating profit of 368,316 euro, versus an operating loss of 349,277 euro in the first half of 2016, while revenue rose to 4.3 million euro from 2.8 million euro, Montecargo said in its H1 financial report filed with the country's stock exchange. 

Operating costs, in turn, rose 27% year-on-year to 3.97 million euro, Montecargo said.

Montenegrin transport minister Osman Nurkovic said in April that the government has terminated the talks for the sale of Luka Bar and Montecargo to OT Logistics as the selected privatisation model was not in the best interests of the seller.

Following are details on Montecargo's performance (in million euro):

The Montenegrin government directly controls a 85.44% stake in the capital of Montecargo.

($ = 0.847522 euro)