December 1 (SeeNews) - Macedonian agricultural and stockbreeding company ZK Pelagonija [MSE:ZPKO] said it swung to consolidated net profit of 315.7 million denars ($5.4 million/5.1 million euro) in the first nine months, reversing a loss of 24.05 million denars in the year-ago period.
Pelagonija's operating revenues rose 17% on the year to 1.316 billion denars in the nine months ended September 30, whereas operating expenses declined by 17% to 1.054 billion denars, the company said in an interim consolidated financial report filed with the Macedonian Stock Exchange on Wednesday.
Operating profit increased to 366.3 million denars from 8.2 million denars.
Financial revenue plunged 65% to only 1.9 milion denars, while financial costs increased 40% to 52.5 million denars.
In 2015, Pelagonija turned to a revised consolidated net profit of 37.3 million denars from a net loss of 49.9 million denars a year ago.
ZK Pelagonija is active in agricultural production and trade, livestock breeding, transport and distribution services.
(1 euro = 61.62 denars)