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Montenegro's Budvanska rivijera books net loss in Q1 - table

Author Radomir Ralev
Montenegro's Budvanska rivijera books net loss in Q1 - table Source: MK Group

PODGORICA (Montenegro), June 22 (SeeNews) - Montenegrin hotel operator Budvanska rivijera [MNG:BUDR] recorded a net loss of 1.9 million euro ($2.0 million) in the first quarter of 2022, versus a 1.7 million euro net loss in the like period of the previous year, it said.

The company's revenue soared to 229,700 euro from 31,300 euro while operating costs grew to 1.1 million euro from 990,000 euro, Budvanska rivijera said in an interim financial statement filed with the Montenegro Stock Exchange.

Following are details of Budvanska rivijera's performance (in millions of euro):

Q1'22 Q1'21
Operating revenue 0.230 0.031
Operating costs 1.124 0.990
Net profit/loss -1.866 -1.665

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