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Macedonian Steel Mill Makstil Turns to 9-Mo Prelim Net Loss of 85.2 Mln Denars (1.4 Mln Euro) - Table

Nov 5, 2009, 6:17:50 PMArticle by Valentina Dimitrievska
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November 5 (SeeNews) - Macedonia's largest steel mill, Makstil AD, said on Thursday it turned to a preliminary net loss of 85.2 million denars ($2.1 million/1.4 million euro) through September from a net profit of 50.7 million denars a year ago.

Macedonian Steel Mill Makstil Turns to 9-Mo Prelim Net Loss of 85.2 Mln Denars (1.4 Mln Euro) - Table

Following are details from Makstil’s income statement sent to the Macedonian Stock Exchange (MSE) where the company is listed (in millions of denars):

Jan-Sept'09 Jan-Sept'08
NET PROFIT/LOSS -85.2 50.7
PRE-TAX PROFIT/LOSS -84.7 57.1
OPERATING PROFIT/LOSS -131.0 0.305
SALES REVENUE 3,156 5,120

Makstil (www.makstil.com) is one of the most liquid companies on the MSE and a component of the bourse's blue-chip MBI index. Its stock closed at 305 denars on Thursday, 2.0% up from a day earlier.

Duferco Skop Investment Ltd. owns 62.4% of Makstil, which operates two units of the communist era giant Zelezara Skopje, the hot rolling mill and the steelworks. Minyork Overseas Inc owns a 19.38% stake. Makstil has some 1,000 employees.

(1 euro=61.5997 Macedonian denars)

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