Bar, (MINA-BUSINESS) – The Port of Bar finished the first quarter with a net profit of €57,450, as opposed to a €161,510 loss it made in the same period last year.
According to a consolidated report, published on the website of the Montenegro Stock Exchange, the operating income of the company amounted to €1.84 million at the end of March, down 14.2 percent year-on-year.
In the reporting period, the operating costs decreased slightly compared with the last year’s corresponding period to €2.28 million.
The expenses related to salaries and other remunerations amounted to €1.42 million, while the costs of depreciation and material amounted to €316,050 and €348,390 respectively. Other operating costs amounted to €161,260.
The total assets of the company amounted to €60.35 million at the end of the first quarter, around twenty percent less than in the same period last year.
In this period, the company’s accumulated loss amounted to €23.41 million, while its long-term and short-term liabilities amounted to €2.56 million and €2.66 million respectively.
The majority owner of the Port of Bar is the state, which holds a 54.05 percent stake in the company.
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