Montecargo profit falls in 2016
Podgorica - Montenegrin majority state-owned rail cargo operator Montecargo said its net profit fell to 12,789 euro ($13,895) in 2016 from 53,717 euro a year earlier. The company’s operating profit decreased 12.9% to 6.2 million euro, while operating costs declined 4.3% to 6.2 million euro
Podgorica - Montenegrin majority state-owned rail cargo operator Montecargo said its net profit fell to 12,789 euro ($13,895) in 2016 from 53,717 euro a year earlier. The company’s operating profit decreased 12.9% to 6.2 million euro, while operating costs declined 4.3% to 6.2 million euro, Montecargo said in its audited financial report filed with the country’s stock exchange. In February, Montenegrin privatisation agency president Branko Vujovic said that the government aims to sell a 51% stake in Montecargo to OT Logistics together with a 30% shareholding in Luka Bar, the operator of Bar port.