August 23 (SeeNews) - North Macedonia-based construction chemicals maker Ading [MSE:ADIN] said on Friday that its consolidated net profit dropped by an annual 45% to 7.8 million denars ($140,000/127,000 euro) in the first half of 2019.
Ading's revenue rose 5% year-on-year to 178.8 million denars in the January-June period of the year, the company said in an interim financial statement.
Domestic sales grew 26% to 154.9 million denars, while sales abroad plunged 53% to 21.6 million denars.
The company's operating expenses increased 9% on the year to 171.1 million denars in the first six months of 2019, on the back of higher expenses for hired services and personnel 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 = 61.55 denars)