March 27 (SeeNews) - Montenegro's Port of Adria [MNG:KOGE], the operator of a cargo and cruise dock at the port of Bar, slashed its net loss to 766,500 euro ($825,000) in 2022 from 5.4 million euro the previous year, it said.
The revenue of Port of Adria rose 8.3% on the year to 7.8 million euro, while expenses decreased to 3.7 million euro from 5 million euro, Port of Adria said in a filing with the Montenegro Stock Exchange earlier this month.
Port of Adria, a subsidiary of Turkey-based Global Ports Holding (GPH), has been operating the container and general cargo terminal of Bar port since November 2013 when it bought a 62% stake in the capital of Montenegrin company Kontejnerski terminali i generalni tereti (KTGT) from the government.
($ = 0.9292 euro)