March 6 (SeeNews) - Macedonia's Tehnokomerc [MSE:TEHN], a retailer of car spare parts, tires, batteries, construction machines and hydraulic hoses, said on Monday its net profit increased 9% to 14.5 million denars ($249,200/235,355) in 2016.
Total operating revenue rose 10% to 287.7 million denars, with most of it, 283.3 million denars, generated through sales on the domestic market, the company said in its annual financial report filed with the Macedonian Stock Exchange.
Tehnokomerc's total operating costs increased 13% to 272.9 million denars.
Financial revenues increased to 6.7 million denars from 1.2 million previously and almost covered financial expenses of 7 million denars, which were 4% less than in 2015.
Last month, Tehnokomerc said it has received a letter of intent for the acquisition of the company.
"According to the law for acquisition of joint stock companies, the person Ilija Filipovski has informed the board of directors of the company on February 16 about his intention to announce an offer for the acquisition of all the shares issued by Tehnokomerc," the company said back then in a brief filing to the MSE.
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