May 7 (SeeNews) - Montenegro’s state-controlled rolling stock maintenance firm Odrzavanje Zeljeznickih Voznih Sredstava [MNG:OZVS] said its net loss widened to 231,762 euro ($249,403) in the first quarter of 2024, from 156,124 euro in the like period of last year.
The company’s revenue rose 12.9% on the year to 531,447 euro in the first three months of 2024, while operating costs increased to 116,340 euro from 106,883, OZVS said in a filing with the Montenegrin Stock Exchange last week.
In February, Montenegro's government said it mandated the transport ministry to take all necessary measures to facilitate the merger of OZVS and railway operator Zeljeznicki Prevoz Crne Gore, to save the rolling stock maintenance firm from bankruptcy.
OZVS shares last traded on the Montenegro Stock Exchange on April 26, closing flat at 1.45 euro.
($ = 0.9296 euro)