April 1 (SeeNews) - Montenegrin blue-chip company Sveti Stefan Hoteli [MNG:SSHO] recorded a net profit of 507,062 euro ($428,166) in 2020, up from 254,708 euro in the previous year, it said.
The revenue of the company rose to 977,955 euro last year from 339,950 euro in 2019, Sveti Stefan Hoteli said in an annual financial statement filed with the Montenegro Stock Exchange.
The company's expenses grew to 293,769 euro from 16,600, Sveti Stefan Hoteli, established in August 2019 following the restructuring of hotel operator Budvanska Rivijera [MNG:BUDR], said.
The share capital of Budva-based Sveti Stefan Hoteli is divided into 8,110,763 shares with a nominal value of 3.19 euro each. The largest shareholder is the Montenegrin government with a 41.6% stake, followed by Serbian lender AIK Banka with 20% and the Montenegrin pension insurance fund with 12.8%.