April 3 (SeeNews) - Montenegrin hotel operator Mimoza [MNG:MIMO] said it ended last year with a net loss of 470,400 euro ($505,600), widening from 367,000 loss in 2022.
Net sales revenue went up to 1.7 million euro last year from 1.4 million euro in 2022, whereas operating expenses increased to 1.5 million euro from 1.3 million euro, Mimoza said in its 2023 annual financial report filed with the Montenegro Stock Exchange on Tuesday.
Expenses for workers' wages and benefits also rose, to 630,000 euro from 466,000 euro in 2022, resulting in an operating loss of 396,000 euro, larger than the operating loss of 325,400 euro reported for 2022.
The shares of Tivat-based Mimoza last traded on the Montenegrin bourse on June 16, 2022, closing flat at 1.8 euro. The company cut its share capital by 10% in March 2023 and it is now divided into 3,092,859 stocks with a nominal price of 3.01 euro apiece.
Mimoza's largest shareholder is Kolasin-based water producer and bottler Gorska DOO with a stake of 89%, followed by Kotor-based hotel operator Fjord with 1.6%. The remainder belongs to other minority shareholders, bourse data showed on Wednesday.
($ = 0.930 euro)