August 6 (SeeNews) - Montenegro's majority state-owned power transmission system operator Crnogorski Elektroprenosni Sistem [MNG:PREN] said its net profit rose to 3.2 million euro ($3.7 million) in the first half of 2018 from 1.7 million euro in the like period of last year.
The company's first-half operating income grew 7.3% on the year to 16.7 million euro, while operating costs rose 2.9% to 14.5 million euro, Crnogorski Elektroprenosni Sistem (CGES) said in an interim financial statement filed with the Montenegro Stock Exchange.
In June, CGES said it expects its net profit to decline to 2.4 million euro in 2018 from 4.7 million euro last year.
The total quantity of the electricity processed through the facilities of CGES decreased by 4% to 5.49 TWh in 2017.
Montenegro is a renewable energy leader in Europe, with more than 40% of its domestic electricity consumption coming from clean energy sources.
($=0.865034 euro)