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Montenegrin rail operator ZPCG cuts H1 net loss

Author Radomir Ralev
Montenegrin rail operator ZPCG cuts H1 net loss Source: ZPCG

PODGORICA (Montenegro), September 3 (SeeNews) - Montenegrin state-controlled rail transport operator Zeljeznicki Prevoz Crne Gore (ZPCG) said its net loss in the first half of 2019 fell to 754,065 euro ($824,766) from 1.4 million euro in the like period of last year.

The revenue of the company went up 15% on the year to 3.5 million euro, while operating costs declined 2.6% to 4.2 million euro, ZPCG said in an interim financial statement filed with the Montenegro Stock Exchange.

Operating loss went down to 732,597 euro from 1.3 million euro in the first half of last year, ZPCG said.

The Montenegrin state directly controls a 90.79% stake in the capital of ZPCG.

($ = 0.914277 euro)