May 10 (SeeNews) - Montenegro's power transmission system operator Crnogorski Elektroprenosni Sistem (CGES) [MNG:PREN] said on Wednesday that its net profit increased to 8.5 million euro ($9.3 million) in the first quarter of 2023, from 5.7 million euro in the like period of last year.
The company's net sales grew by 6.4% to 30.1 million euro in the period under review, while operating costs fell by 13.9% to 17.3 million euro, CGES said in a filing with the Montenegro Stock Exchange.
Details follow (in millions of euro):
|
Q1'23 |
Q1'22 |
Net sales |
30.067 |
28.312 |
Operating costs |
17.262 |
20.137 |
Operating profit |
11.212 |
6.636 |
Net profit |
8.485 |
5.688 |
$ = 0.9127 euro