May 16 (SeeNews) - North Macedonian forwarding company Fersped [MSE:FERS] said that its non-consolidated net profit plunged 43% to 15.4 million denars ($280,000/250,000 euro) in the first quarter of 2019.
Fersped's total operating revenue edged down 1% on the year to 797.8 million denars in the first three months of 2019, the company said in an interim financial statement on Wednesday.
Domestic sales lost 7% to 730.4 million denars in the review period, while sales abroad soared to 64.9 million denars from 26.4 million denars a year earlier.
Total operating expenses remained virtually unchanged year-on-year at 778.6 million denars.
A 2% rise in expenses for hired services, to 592.9 million denars, was offset by a 9% decrease in cost of goods sold, which totalled 123.4 million denars.
Fersped was established in 1968 and privatised in 1995.
(1 euro = 61.62 denars)