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Montenegro's Ulcinjska Rivijera loss narrows in H1 - table

Author Radomir Ralev
Montenegro's Ulcinjska Rivijera loss narrows in H1 - table Source: Ulcinjska Rivijera

PODGORICA (Montenegro), August 20 (SeeNews) - Montenegrin hotel operator Ulcinjska Rivijera [MNG:ULRI] has said its loss in the first half of 2018 narrowed to 451,168 euro ($514,762) from 709,515 euro in the like period of last year.

The revenue of the company went down to 209,714 euro from 417,084 euro, while operating costs declined to 644,471 euro from 1.1 million euro, Ulcinjska Rivijera said in a financial statement filed with the Montenegro Stock Exchange.

Operating loss narrowed 32.7% on the year to 434,757 euro in the first half of 2018, Ulcinjska Rivijera said.

Following are details on Ulcinjska Rivijera's performance (in euro unless otherwise stated):

  H1'18 H1'17
Operating costs 644,471 1.062 mln
Revenues 209,714 417,084
Operating profit/loss -434,757 -645,798
Net profit/loss -451,168 -709,515

($ = 0.876459 euro)