March 6 (SeeNews) - North Macedonia's farming company ZK Pelagonija [MSE:ZPKO] said its net profit reached 504.1 million denars ($8.9 million/8.2 million euro) in 2023, significantly higher compared with 38.8 million denars recorded a year earlier, mostly due to higher financial revenues.
Operating revenues were 10% lower at 1.15 billion denars in 2023, while operating costs fell 17% year-on-year to 1.10 billion denars, ZK Pelagonija said in an annual financial statement last week.
ZK Pelagonija's financial revenues soared to 508 million denars in 2023 from 15.5 million denars in 2022, while financial expenses fell 78% year-on-year to 13.7 million denars.
The company's shares last traded on the Macedonian Stock Exchange (MSE) on February 15, at an average price of 3,600 denars.
(1 euro = 61.65 denars)