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N. Macedonia's Makpetrol cuts Q1 cons net profit 76% y/y

Author Mario Tanev
N. Macedonia's Makpetrol cuts Q1 cons net profit 76% y/y Author: Makpetrol. Licence: All Rights Reserved.

SKOPJE (North Macedonia), May 23 (SeeNews) - North Macedonia-based fuel retailer Makpetrol [MSE:MPT] said on Thursday that its consolidated net profit fell by an annual 76% to 18.4 million denars ($333,000/300,000 euro) in the first quarter of 2019.

The company's total operating expenses grew 10% on the year to 4.67 billion denars in January-March, Makpetrol said in an interim financial statement.

Cost of goods sold added 10% to 4.15 billion denars in the first three months of the year.

Total operating revenue rose 8% year-on-year to 4.70 billion denars in the review period.

Domestic sales increased 8% to 4.48 billion denars, while sales abroad edged up 2% to 216 million denars.

Makpetrol has a network of over 100 fuel stations across North Macedonia. The company also has units in neighbouring Serbia and Greece.

(1 euro = 61.42 denars)

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