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Montenegro's Rudnik Uglja turns to profit in H1 - table

Oct 3, 2017, 2:47:51 PMArticle by Radomir Ralev
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PODGORICA (Montenegro), October 3 (SeeNews) – Montenegrin blue-chip coal miner Rudnik Uglja [MNG:RUPV] said it swung to a net profit of 93,182 euro ($109,526) in the first half of 2017 from a loss of 2.2 million euro in the respective period of last year.

Montenegro's Rudnik Uglja turns to profit in H1 - table
Source: Rudnik Uglja

The revenue of the company went up 20.9% on the year to 16.2 million euro while operating costs rose 2.6% to 15.8 million euro, Rudnik Uglja said in a financial statement filed with the Montenegro Stock Exchange.

Operating profit stood at 388,807 euro in the first half of 2017, versus a 2.04 million euro operating loss in the like period of 2016, Rudnik Uglja said.

Following are details of Rudnik Uglja's performance (in millions of euro):

  H1'17 H1'16
Operating costs 15.815 15.452
Revenue 16.204 13.407
Operating profit 0.389 -2.045
Net profit/Net loss 0.093 -2.222

($ = 0.850774 euro)

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