September 3 (SeeNews) - North Macedonia-based construction company Granit [MSE:GRNT] said that its consolidated net profit fell by an annual 15% to 87.4 million denars ($1.6 million/1.4 million euro) in the first six months of the year.
Granit's operating revenue rose 9% year-on-year to 2.33 billion denars in the January-June period of 2019, the company said in an interim financial statement on Monday.
Domestic sales revenue grew 15% to 2.0 billion denars, while foreign markets sales revenue soared 185% to 195.7 million denars.
Capitalised own products and services plunged 77% to 64.7 million denars.
Total operating expenses increased 6% to 2.29 billion denars in the review period, as expenses for hired services jumped 21% to 928.9 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 = 61.24 denars)