PODGORICA (Montenegro), May 27 (SeeNews) – Montenegrin oil products distributor Jugopetrol [MNG:JGPK] swung to a net loss of 1.1 million euro ($1.2 million) in the first quarter of 2019 from a net profit of 768,675 euro in the like period of the previous year, it said.
The company's revenue went up 9.1% on the year to 27.7 million euro in the first quarter, while operating costs were up 16.7% to 28.6 million euro, Jugopetrol said in a financial statement filed with the Montenegro Stock Exchange.
The company turned to an operating loss of 869,950 euro from an operating profit of 858,248 euro.
Following are details on Jugopetrol's performance (in millions of euro):
|
Q1'19 |
Q1'18 |
Revenues |
27.688 |
25.405 |
Operating costs |
28.558 |
25.547 |
Operating profit/loss |
-0.870 |
0.858 |
Net profit/loss |
-1.074 |
0.769 |
($ = 0.893188 euro)