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SKOPJE (North Macedonia), September 12 (SeeNews) - North Macedonia-based forwarding company Fersped [MSE:FERS] said that its consolidated net profit plunged 54% to 28.7 million denars ($512,000/465,000 euro) in the first half of 2019 due to a rise in expenses.
Fersped's operating expenses amounted to some 1.84 billion denars in the first six months of 2019, up by an annual 5%, the company said in an interim financial statement.
The rise was mostly due to a 10% hike in expenses for hired services, to 1.27 billion denars.
The company's operating revenue remained unchanged year-on-year at 1.88 billion denars.
Fersped was established in 1968 and privatised in 1995.
(1 euro = 61.72 denars)