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Montenegro's Sveti Stefan Hoteli net profit rises in H1

Author Radomir Ralev
Montenegro's Sveti Stefan Hoteli net profit rises in H1 Montenegro's Sveti Stefan, Photo: Jigsaw Puzzle.co.uk

PODGORICA (Montenegro), July 14 (SeeNews) - Montenegrin blue-chip company Sveti Stefan Hoteli [MNG:SSHO] recorded a net profit of 393,797 euro ($465,525) in the first half of 2021, up from 306,998 euro in the like period of the previous year, it said.

The revenue of the company totalled 488,678 euro in the first half of 2021, the same as in the first six months of last year, Sveti Stefan Hoteli said in an interim financial statement filed with the Montenegro Stock Exchange.

The company's expenses grew to 293,769 euro from 183,196, 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%.

($ = 0.845884 euro)

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