August 16 (SeeNews) - Montenegro's state-controlled power utility Elektroprivreda Crne Gore (EPCG) [MNG:EPCG] recorded a net profit of 6.5 million euro ($6.6 million) in the first half of 2022, down from 17.1 million euro in the like period of last year, it said.
Net sales grew 43% on the year to 244.4 million euro in the period under review, whereas costs grew 58.4% to 223.6 million euro, EPCG said in an interim financial report filed with the Montenegro Stock Exchange.
Montenegro's state directly owns a 88.6% stake in the capital of EPCG. The company controls a 10% shareholding interest itself, while the remainder is in the hands of other minority shareholders.
($ = 0.98471 euro)