Thursday, May 23, 2024
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Port of Bar reports strong first quarter financial results

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During the first three months, the Port of Bar achieved a net profit of €250,000, marking an improvement of €42,000 compared to the same period last year, according to a report published on the Montenegro Stock Exchange website. Despite a slight decrease in operating revenue to €3.7 million, down by approximately €200,000, other income surged to €185,000, tripling from the previous year’s comparative period.

While operating expenses decreased by about €200,000 to €1.8 million, wage costs rose from €1.55 million to €1.78 million.

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The company’s accumulated loss from previous years stood at €13.8 million by the end of March, while its total liabilities, both long-term and short-term, amounted to €13.4 million.

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