March 2 (SeeNews) - North Macedonia-based building materials producer Cementarnica Usje [MSE:USJE], a unit of Greek cement producer Titan, said that its net profit fell by an annual 13% to 1 billion denars ($17.2 million/16.3 million euro) in 2022, as costs increased.
Cementarnica Usje's operating expenses added 41% on the year to 5.8 billion denars in 2022, as costs for materials rose 67% to 3.5 billion denars, the company said in an annual financial statement earlier this week.
Operating revenue grew 25% year-on-year to 6.7 billion denars in 2022.
Domestic sales went up 26% to 4.1 billion denars, while sales on foreign markets rose 22% to 2.3 billion denars.
Cementarnica Usje employs more than 300 people.
The company's shares last traded on the Macedonian Stock Exchange on January 11, at an average price of 29,850 denars, bourse data showed.
(1 euro = 61.52 denars)