N. Macedonia's Granit expects 11.6% higher net profit in 2024

Granit sees its total operating revenues slightly declining to 5.16 billion denars in 2024 from 5.20 billion denars a year earlier, whereas total operating expenses are seen falling 0.1% year-on-year to 5.1 billion denars, it said in its financial plan filed with the Skopje bourse.

However, the company expects to increase its profit from investments to 103.4 million denars in 2024 from 58.1 million denars in 2023.

Granit's shares traded at an average price of 1,355 denars on the Macedonian Stock Exchange (MSE) on June 4, latest available bourse data shows.

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 = 61.59 denars)