State-owned Montenegrin bulker owner Crnogorska Plovidba has managed a return to profit in the first nine months of 2016.
The company said net earnings were EUR 492,700 ($525,000) to 30 September, against a loss of EUR 5.4m in 2015.
Operating income fell 33.4% to EUR 3.24m, SeeNews reported, while it cut operating costs by 29.2% to EUR 3.07m.
Assets totalled EUR 39.91m at the end of September, down from EUR 40.67m
