Macedonia's RZ Institut 9-mo net profit plunges

The company’s operating income fell by 27% on the year to 232.2 million denars in January-September, while its operating costs decreased 22% to 229.1 million denars, it said in its nine-month financial statement sent to the Macedonian Stock Exchange.

RZ Institut, once the research and development division of communist-era steel giant Zelezarnica, produces ferro alloys and aluminium alloys and processes ferrous metal scrap. It provides analyses, measurements, exploration and testing of ores and mining equipment.

The company is majority-owned by British Virgin Islands-registered Repro One Ltd.

(1 euro = 61.5025 Macedonian denars)