You have 10 free articles left this month. Get your freeBasic subscription now and gain instant access to more.

N. Macedonia's Makedonski Telekom lifts 2019 net profit 6%

Author Mario Tanev
N. Macedonia's Makedonski Telekom lifts 2019 net profit 6% wrangler/Shutterstock.com

SKOPJE (North Macedonia), February 26 (SeeNews) - North Macedonia-based telecommunications company Makedonski Telekom [MSE:TEL] said that its net profit grew by an annual 6% to 1.5 billion denars ($26.5 million/24.3 million euro) in 2019 on the back of higher revenue.

Makedonski Telekom posted a 4% rise in its 2019 revenue to 10.95 billion denars, the company said in an annual financial statement.

Domestic sales added 5% to 10.3 billion denars, while sales abroad fell 12% to 555.6 million denars.

The company's operating expenses increased 3% to 9.21 billion denars, as amortisation and depreciation costs rose 9% to 2.74 billion denars.

(1 euro = 61.61 denars)

Compare