March 19 (SeeNews) - North Macedonian construction company Granit [MSE:GRNT] said that its net profit fell by an annual 29% to 155.8 million denars ($2.9 million/2.5 million euro) in 2018.
The company's operating revenue dropped 14% to 3.93 billion denars last year, Granit said in an unaudited financial statement last week.
Domestic sales revenue declined 10% to 3.41 billion denars, while sales abroad plunged 31% to 125.6 million denars.
Total operating expenses decreased 14% to 3.84 billion denars, as expenses for services slid 20% to 1.36 billion denars.
Financial revenue slipped 53% to 54 million denars, while financial expenses shrank 75% to 9.9 million 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 = 61.47 denars)