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Aug 15, 2023 11:49 EEST
August 15 (SeeNews) - North Macedonia's construction chemicals producer Ading [MSE:ADIN] said on Tuesday it booked a net profit of 86.4 million denars ($1.5 million/1.4 million euro) for the first half of 2023, significantly higher compared with 36.9 million denars reported for the like period of 2022.
The company increased its operating revenue by 19% on the year in the first six months of 2023 to 312.6 million denars, it said in a filing with the stock exchange in Skopje.
Revenues from sales abroad decreased 28% year-on-year to 35 million denars, while domestic sales rose 33% to 274.1 million denars in the period under review.
Operating expenses fell 5% on the year to 212.2 million denars in the January-June period.
Ading's shares last traded on the Skopje bourse on July 11, at an average price of 865 denars.
Skopje-based Ading, established in 1969, has representative offices and distributors in 13 countries in Southeast Europe, Asia and the Middle East. Outside North Macedonia, Ading has production facilities in Bulgaria.
(1 euro = 61.67 denars)
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