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Montenegro's Napredak Kotor net profit doubles in 2023

Apr 18, 2024, 11:17:45 AMArticle by Djordje Jajcanin
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April 18 (SeeNews) - Montenegrin diversified holding Napredak Kotor [MNG:NAKO] said it recorded a net profit of 641,852 euro ($682,671) in 2023, up from 326,040 euro profit booked in the previous year.

Montenegro's Napredak Kotor net profit doubles in 2023
Ken Teegardin/CC BY-SA 2.0

Revenue grew to 2.3 million euro from 2.1 million euro, whereas operating costs rose slightly to 3.03 million euro from 2.97 million euro, the company said in a filing with the Montenegro Stock Exchange on Wednesday.

The company's operating profit grew to 775,768 euro from 678,907 euro, Napredak Kotor said.

Napredak Kotor's capital is composed of 193,312,088 shares with a nominal value of 0.09 euro apiece. The company is listed on the multilateral trading facility (MTP) segment of the Montenegro Stock Exchange.

$ = 0.9400 euro

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