English

Poor business performance due to the negative exchange rate

Brod Budva

Barska plovidba AD operated successfully this year, it settled all the obligations regularly and ensured the increase in business revenues, executive director of this company Tihomir Mirković told Pobjeda, a daily. He said the negative business result in the first six months of the year was the consequence of the negative euro-dollar exchange rate, and it didn’t depict real business results of the company.

“In the first six months of the year, Barska plovidva AD realized the positive business result amounting to €300,000, which is considerably higher compared to the same period last year,” Mr Mirković said.

The main reason for this, according to him, is the increase in the company’s revenues from renting the ships ‘Bar’ and ‘Budva’, as well as the reduction of business costs.

As for the 2nd quarter of the year, the company sustained loss in the amount of €329.380, which is by 4.8 times less compared to the same period last year, suggested the data published on the website of the Montenegro Stock Exchange. Based on the Business Report of the company, business revenues went up by 19% in the end of June compared to the same period last year and amounted to €3.13 million. Business expenditures of the company dropped by 4.9 per cent and amounted to €2.79 million.

 

 

 

 

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