Montenegro's Lustica Development narrows 9-mo net loss

The company’s revenue rose to 22.4 million euro from 20.40 million euro in the nine months through September, while operating costs shrank to 18.9 million euro from 23.3 million euro, the company said in an interim financial statement filed with the Montenegro Stock Exchange.

Lustica Development is listed on the prime market segment of the Montenegro Stock Exchange.

Lustica Development was founded in 2008 as a joint venture between Swiss-based Orascom Development Holding (ODH) (90%) and the government of Montenegro (10%). ODH, which has since increased its share to 92.75%, is a leading developer of integrated destinations, with over 30 years of experience in developing resort towns and creating self-sufficient and international communities.

$ = 0.9366 euro