October 22 (SeeNews) - North Macedonia's steel products manufacturer Fakom [MSE:FAKM] saw its non-consolidated net profit surge to 14.9 million denars ($286,200/242,000 euro) in the first nine months of 2020, compared with 1.4 million denars profit in the same period last year.
Total operating revenue increased by 22% year-on-year to 926 million denars in the January-September period, the company said in an interim financial statement filed with the stock exchange in Skopje.
Fakom's domestic sales jumped by an annual 35% to 314.6 million denars, while sales abroad increased by 16% to 601 million denars.
Total operating expenses rose by 20% to 905.4 million denars, as cost of materials consumed amounted to 476.5 million denars, up 51% year-on-year.
Fakom specialises in the production of hot rolled steel sheets, hot rolled profiles, tubular profiles, galvanized and plastic-coated metal sheets and other items.
(1 euro = 61.63 denars)