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N. Macedonia's Granit 9-mo cons net profit soars on revenue rise

Author Mario Tanev
N. Macedonia's Granit 9-mo cons net profit soars on revenue rise Author: Granit. Licence: All rights reserved.

SKOPJE (North Macedonia), December 6 (SeeNews) - North Macedonia-based construction company Granit [MSE:GRNT] said that its consolidated net profit jumped by an annual 48% to 233.1 million denars ($4.2 million/3.8 million euro) in the first nine months of 2019, backed by higher revenue.

Granit's operating revenue grew by 10% to 4.2 billion denars in the January-September period of 2019, the company said in an interim financial statement.

Domestic sales were 48% higher on the year at 3.7 billion denars, while sales abroad plunged 68% to 349 million denars.

The company's operating expenses increased 10% to 4.1 billion denars, as expenses for hired services rose 26% to 1.7 billion denars.

Skopje-based Granit was established in 1952 and privatised in 1996. Its main activities include construction and rehabilitation of roads. The company owns several concrete and asphalt plants and stone quarries. 

(1 euro = 61.44 denars)

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