December 3 (SeeNews) - Macedonian construction company Granit [MSE:GRNT] said that its consolidated net profit dropped by an annual 57% to 157.4 million denars ($2.9 million/2.6 million euro) in the January-September period of 2018.
Total operating revenue fell 15% year-on-year to 3.82 billion denars in the first nine months of the year, Granit said in an interim financial statement.
Domestic market sales revenue decreased 7% to 2.47 billion denars, while sales revenue abroad lost 10% to 1.1 billion denars.
Total operating expenses declined 11% to 3.69 billion denars, as expenses for hired services fell 19% to 1.32 billion denars.
Last month, Granit said that it has signed three road rehabilitation contracts with Macedonia's Public Enterprise for State Roads worth a total of 641.9 million denars.
Skopje-based Granit was established in 1952 and privatised in 1996. Its main activities include construction and rehabilitation of roads. The company owns several concrete and asphalt plants and stone quarries.
(1 euro = 61.51 denars)