January 2 (SeeNews) - Macedonian food company Vitaminka [MSE:VITA] said on Tuesday it expects its profit to increase by an annual 10-12% in 2018.
In the first nine months of 2017, Vitaminka's non-consolidated net profit fell by 59% year-on-year to 15.4 million denars ($294,000/250,400 euro).
The company expects its operating revenue to amount to 35.7 million euro in 2018, Vitaminka said in a bourse filing.
Some 48% of the food producer's revenue this year is expected to come from exports.
The company's main goal in 2018 is to increase its sales both domestically and in the Balkans region, it said.
Vitaminka intends to keep its investments at last year's level, with its main investment focus being the introduction of new production lines, as well as the modernisation and authomatisation of technological processes.
Vitaminka specialises in production of chocolate confectionery and crisp snacks. The company exports over 45% of its output primarily to Serbia, Croatia, Bosnia and Herzegovina, Slovenia, Kosovo, Australia, and the U.S.
(1 euro = 61.51 denars)