February 21 (SeeNews) - North Macedonian telecommunications group Makedonski Telekom [MSE:TEL] said on Thursday that its net profit rose by an annual 3% to 1.42 billion denars ($26.2 million/23 million euro) in 2018.
The company's total operating revenue increased 2% year-on-year to 10.56 billion denars in 2018, the company said in an unaudited financial report.
Domestic sales revenue added 2% to 9.83 billion denars, while sales on foreign markets dropped 18% to 631 million denars.
Operating expenses grew 2% to 8.95 billion denars, on the back of higher cost of goods sold, service costs, and depreciation and amortisation costs.
Makedonski Telekom's main competitor in the country of some 2 million people is one.Vip, a unit of Telekom Austria.
(1 euro = 61.61 denars)