Montenegro's Budvanska Rivijera posts 35.7% y/y lower net profit in 2011.

By bne IntelliNews February 23, 2012
Montenegrin hotel group Budvanska Rivijera posted EUR 417,796 net profit in 2011, down 35.7% y/y, Vijesti daily reported. The company's revenue dropped by 3.5% on the year to EUR 15.2mn in 2011. The shareholders will meet on February 29 to vote on the annual report. The government controls 58.7% of Budvanska Rivijera. The company is included in the government's privatisation programme for 2012.

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