SKOPJE (N. Macedonia), October 22 (SeeNews) - North Macedonia's steel products manufacturer Fakom [MSE:FAKM] said on Friday its net profit slumped to just 354,000 denars ($6,700/5,700 euro) in the first nine months of the year, compared with a net profit of 14.9 million denars booked in the same period a year earlier.
Operating revenues were down 27% year-on-year to 676.9 million denars, while operating expenses totalled 668.8 million denars, down 26% on the year, Fakom said in an interim financial statement.
Fakom's domestic sales decreased by 23% on the year in the January-September period to 243.2 million denars, whereas its sales abroad were 29% lower at 425.5 million denars.
Fakom is specialised in the production of hot rolled steel sheets, hot rolled profiles, tubular profiles, galvanized and plastic-coated metal sheets and other items.
(1 euro = 61.62 denars)