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N. Macedonia's Ading posts lower H1 net profit

N. Macedonia's Ading posts lower H1 net profit Ministry of Economy/All rights reserved.

SKOPJE (N. Macedonia), August 1 (SeeNews) - North Macedonia's construction chemicals producer Ading [MSE:ADIN] reported a net profit of 12.2 million denars ($202,564/197,624 euro) for the first half of 2022, 24% lower compared with the like period of 2021.

The company increased its operating revenue by 5% on the year in the first six months of 2022 to 206.5 million denars, it said in a filing with the stock exchange in Skopje last week.

Revenues from sales abroad decreased 22% year-on-year to 74 billion denars, while domestic sales rose 27% to 127 million denars in the period under review.

Operating expenses rose 10% on the year to 192 million denars in the January-June period.

Ading's shares last traded on the Skopje bourse on July 22, at an average price of 815 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 = 61.68 denars)