PODGORICA (Montenegro), August 2 (SeeNews) – Montenegrin hotel operator Budvanska rivijera [MNG:BUDR] recorded a net loss of 1.9 million euro ($2.1 million) in the first half of 2019, versus a 541,000 euro loss in the like period of last year, it said.
The company's revenue went up 1.5% on the year to 6.8 million euro while operating costs rose 18.9% to 8.8 million euro, Budvanska rivijera said in a financial statement filed with the Montenegro Stock Exchange.
Operating loss rose to 2.0 million euro from 681,200 euro in the first half of 2018, Budvanska rivijera said.
Following are details of Budvanska rivijera's performance (in millions of euro):
|
H1'19 |
H1'18 |
Operating revenues |
6.785 |
6.738 |
Operating costs |
8.820 |
7.419 |
Operating profit/loss |
-2.035 |
-0.681 |
Net profit/loss |
-1.877 |
-0.541 |
In February, Montenegro's government put Budvanska rivijera on its list of majority state-owned companies slated for privatisation in 2019
($ = 0.901144 euro)