N. Macedonia's Liberty narrows net loss in Q1

The company's operating revenues decreased 25% on the year to 1.3 billion denars in the January-March period, whereas its operating costs fell 24% to 1.2 billion denars, it said in an interim financial statement on Friday.

Domestic sales lost 31% year-on-year, standing at 232.2 million denars at the end of March, while sales abroad fell 24% to 1 billion denars.

Liberty produces cold-rolled coils and sheets, galvanized and pre-painted coils, mainly for the general industry segment on the regional market. Liberty House Group acquired the Skopje-based company from Luxembourg-based steel producer ArcelorMittal in July 2019.

The company's shares last traded on the Macedonian Stock Exchange (MSE) on July 13, when they switched hands at an average price of 46 denars.

(1 euro = 61.60 euro)