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N. Macedonia's Automakedonija cuts Q1 cons net profit on rise in expenses

Author Mario Tanev
N. Macedonia's Automakedonija cuts Q1 cons net profit on rise in expenses Author: Ken Teegardin. License: Creative Commons, Attribution 2.0 Generic.

SKOPJE (North Macedonia), June 5 (SeeNews) - North Macedonia-based car dealer Automakedonija said that its consolidated net profit plunged by an annual 52% to 2 million denars ($37,000/33,000 euro) in the first quarter of 2019.

The company's total operating revenue grew 6% on the year to 139.4 million denars in the first three months of the year, the company said in a bourse filing on Monday.

Operating expenses increased 7% to 135.8 million denars, as cost of goods sold added 7% to 87.3 million denars.

Financial revenue fell 21% to 809,000 denars, while financial expenses soared 54% to 1.9 million denars.

Founded in 1946, Automakedonija is active in maintenance and servicing of various types and brands of motor vehicles.

(1 euro = 61.49 denars)

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