Montenegro's Simo Milosevic pares net loss in 2023

Net sales fell to 9.5 million euro from 10.5 million euro a year earlier, whereas expenses decreased to 7.3 million euro from 9.4 million euro, Simo Milosevic said in a filing with the Montenegro Stock Exchange.

Healthcare and spa centre Simo Milosevic, also known as Institute Igalo, is based in the Adriatic resort of Igalo, in the municipality of Herceg Novi.

The company has an outstanding debt of more than 22 million euro, which has prompted the government to establish a special commission last month, in order to address the company's persistent liquidity issues. Last month, Montenegro’s government said it has considered options for ensuring the long-term future of the centre.

$ = 0.9397 euro