April 1 (SeeNews) - Montenegro's majority state-owned power transmission system operator Crnogorski Elektroprenosni Sistem (CGES) [MNG:PREN] net profit increased to 35.7 million euro ($38.5 million) in 2023 from 20.3 million euro in the previous year, it said.
The company's net sales fell 9% year-on-year to 108.4 million euro in 2023, while expenditures fell 29.9% to 60.4 million euro, CGES said in an annual financial statement posted on the website of the Montenegro Stock Exchange last Friday.
Following are details of CGES' financial performance (in millions of euro):
|
2023 |
2022 |
Net sales |
108.360 |
119.208 |
Operating costs |
60.449 |
86.154 |
Operating profit |
42.081 |
25.044 |
Net profit |
35.717 |
20.275 |
$ = 0.9271 euro