November 12 (SeeNews) - North Macedonia-based construction chemicals maker Ading [MSE:ADIN] said on Tuesday that its consolidated net profit halved to 14.6 million denars ($262,000/237,000 euro) in the January-September period of 2019.
The company's operating revenue rose by an annual 7% to 302.8 million denars in the first nine months of the year, backed by higher sales on the local market, Ading said in an interim financial statement.
Domestic sales jumped 30% to 260.6 million denars, while sales abroad plunged 58% to 33.8 million denars.
Ading's operating expenses increased 14% to 286.4 million denars, due to higher personnel costs, expenses for hired services, and amortisation and depreciation costs.
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. The company's product portfolio exceeds 100 items.
(1 euro = 61.52 denars)