N. Macedonia's Ading more than doubles net profit in 2023

The company increased its operating revenue by 20% to 682 million denars in 2023, it said in a filing with the stock exchange in Skopje last week.

Revenues from sales abroad rose 58% year-on-year to 308 million denars, while domestic sales edged up 1.1% to 370 million denars.

Operating expenses fell 1.3% on the year to 504.8 million denars.

Ading's shares last traded on the Skopje bourse on February 5, at an average price of 1,200 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 = 61.5 denars)