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Sep 25, 2023 11:09 EEST
September 25 (SeeNews) - Montenegrin healthcare and spa centre Institut Dr Simo Milosevic - Igalo [MNG:INSM] said it recorded a net loss of 1.36 million euro ($1.45 million) in the first half of 2023, compared with a loss of 1.38 million euro in the prior-year period.
Net sales fell 17.5% to 3.3 million euro in the six months through June, while expenses dropped to 2.2 million euro from 2.6 million, Simo Milosevic said in a filing with the Montenegro Stock Exchange last week.
The company is based in the Adriatic resort of Igalo, in the municipality of Herceg Novi.
Last month, Prime Minister Dritan Abazovic said that the spa centre needs to become fully owned by the state in order to repay its debt and ensure long-term sustainability.
$ = 0.9402 euro
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