Montenegro's Poliex 2023 net profit jumps to 1.57 mln euro

Poliex' net sales revenue soared to 7.1 million euro last year from 4.3 million euro in 2022, it said in a filing with the Montenegro bourse on Wednesday.

Operating costs also rose, to almost 4.2 million euro from 2.5 million euro, while expenses for workers' wages and benefits increased to 1.2 million euro from 781,000 euro, the statement read.

Operating profit rose to 1.59 million euro last year from 613,600 euro in 2022.

Poliex shares last traded on the Montenegrin bourse on December 26, 2022, closing flat at 0.147 euro.

Local businessman Slavko Vujisic owns 82.6% of Poliex, while the remainder belongs to smaller shareholders, bourse data showed.

($ = 0.940 euro)