PODGORICA (Montenegro), October 28 (SeeNews) – Montenegro's Port of Adria [MNG:KOGE], the operator of a cargo and cruise dock at Bar harbour, recorded a net loss of 663,638 euro ($736,012) in the first nine months of 2019, versus a profit of 207,328 euro in the like period of last year, it said.
The revenue of Port of Adria declined 23.6% on the year to 5.3 million euro, while expenses fell to 5.7 million euro from 6 million euro, Port of Adria said in a filing with the Montenegro Stock Exchange on Friday.
The company reported an operating loss of 368,896 euro, versus an operating profit of 987,911 euro.
Port of Adria, a subsidiary of Turkey-based Global Ports Holding (GPH), has been operating the container and general cargo terminal of Bar port since November 2013 when it bought a 62% stake in the capital of Montenegrin company Kontejnerski terminali i generalni tereti (KTGT) from the government.
($ = 0.901613 euro)