November 11 (SeeNews) - North Macedonia-based bitumen products maker Bim said on Monday that its net profit dropped by an annual 40% to 20.3 million denars ($364,000/330,000 euro) in the first nine months of 2019.
Bim's operating revenue edged down 1% to 317.2 million denars, hit by lower local sales, the company said in an interim financial statement.
The company's domestic sales plunged 29% to 155.3 million denars, which was offset by a 58% increase in sales abroad, to 160.1 million denars.
Bim's operating expenses increased 3% to 290.4 million denars.
Expenses for materials remained flattish at 243.8 million denars, while personnel expenses added 8% to 23.4 million denars.
Established in 1957, Bim has a portfolio of over 100 products.
(1 euro = 61.57 denars)