Montenegro's CGES Q1 net profit halves

The majority state-owned company's net sales fell 23.6% year-on-year to 23 million euro in the first quarter, while operating expenditures decreased 28.1% to 13.5 million euro, CGES said in a financial statement posted on the website of the Montenegro Stock Exchange.

Following are details of CGES' financial performance (in millions of euro):

$ = 0.9315 euro