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N. Macedonia's DS Smith Skopje turns to H1 net profit on revenue rise

Author Mario Tanev
N. Macedonia's DS Smith Skopje turns to H1 net profit on revenue rise wrangler/Shutterstock.com

SKOPJE (North Macedonia), August 27 (SeeNews) - North Macedonia's DS Smith Skopje, a unit of British packaging manufacturer DS Smith, said on Tuesday that it turned to a net profit of 4.4 million denars ($79,000/72,000 euro) in the first half of 2019 from a net loss of 8.7 million denars in the same period of 2018.

DS Smith Skopje's operating revenue grew 20% year-on-year to 423.2 million denars in the January-June period of 2019, the company said in an interim financial statement.

Domestic market sales added 18% to 275.3 million denars, while sales abroad were 27% higher at 145.3 million denars.

The company's operating expenses increased 16% on the year to 418.2 million denars in the review period, largely due to a rise in expenses for materials and hired services.

Elsewhere in Southeast Europe, DS Smith is present in Bosnia and Herzegovina, Bulgaria, Croatia, Romania, Serbia and Slovenia.

(1 euro = 61.51 denars)

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