November 12 (SeeNews) - Macedonian fuel storage and transport company Oilco KDA [MSE:OILK] said on Monday that it's net profit fell by an annual 14% to 41.6 million denars ($762,000/676,000 euro) in the January-September period, following a rise in expenses.
The company's operating expenses increased 6% year-on-year to 270.6 million denars in the first nine months of the year, Oilco KDA said in an interim financial statement.
Amortisation and depreciation costs accounted for a large chunk of the increase, as they rose 23% to 41 million denars.
Oilco KDA's total operating revenue added 3% on the year to 288.9 million denars.
Domestic sales increased 4% to 267.8 million denars, while sales abroad fell 15% to 17.2 million denars.
Oilco KDA has a fuel depot in the village Miladinovci near Skopje. The company transports petrol, diesel and heavy fuel oil, as well as compressed natural gas and liquid petroleum gas.
Oilco KDA's biggest shareholder is Macedonian fuel retailer Makpetrol [MSE:MPT].
(1 euro = 61.50 denars)