PODGORICA (Montenegro), November 6 (SeeNews) – Montenegrin hotel operator Budvanska rivijera [MNG:BUDR] recorded a net profit of 4.9 million euro ($5.4 million) in the first nine months of 2019, down from a 6.4 million euro profit in the like period of last year, it said.
The company's revenue went down 0.5% on the year to 20 million euro while operating costs rose 10% to 15.3 million euro, Budvanska rivijera said in a financial statement filed with the Montenegro Stock Exchange.
Operating profit declined to 4.7 million euro from 6.2 million euro in the first nine months of 2018, Budvanska rivijera said.
Following are details of Budvanska rivijera's performance (in millions of euro):
|
9-mo'19 |
9-mo'18 |
Operating revenues |
20.048 |
20.141 |
Operating costs |
15.335 |
13.941 |
Operating profit |
4.713 |
6.201 |
Net profit |
4.881 |
6.410 |
In February, Montenegro's government put Budvanska rivijera on its list of majority state-owned companies slated for privatisation in 2019.
($ = 0.901751 euro)