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Montenegro's EPCG 9-mo net profit declines

Author Radomir Ralev
Montenegro's EPCG 9-mo net profit declines Source: EPCG

PODGORICA (Montenegro), November 26 (SeeNews) - Montenegro's state-controlled power utility Elektroprivreda Crne Gore (EPCG) [MNG:EPCG] recorded a net profit of 412,833 euro ($465,600) in the first nine months of 2021, down from 2.2 million euro in the like period of last year, it said.

Net sales grew 13.1% on the year to 245.6 million euro in the period under review, EPCG said in an interim financial report filed with the Montenegro Stock Exchange.

The company's pre-tax profit went up to 1.2 million euro from 2.0 million euro in the first nine months of 2020.

Montenegro's state directly owns a 88.6% stake in the capital of EPCG. The company controls a 10% shareholding interest itself, while the remainder is in the hands of other minority shareholders.

($ = 0.88665 euro)

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