August 21 (SeeNews) - North Macedonia-based fuel trader Makpetrol [MSE:MPT] said that its consolidated net profit fell 27% year-on-year to 239.8 million denars ($4.3 million/3.9 million euro) in the first half of 2019, following a rise in expenses.
Makpetrol's operating expenses grew by an annual 7% to 10.1 billion denars in the January-June period of 2019, largely due to higher cost of goods sold and personnel expenses, figures from the company's interim financial statement showed.
Cost of goods sold added 7% to 9.0 billion denars, while personnel expenses were 10% higher at 552.4 million denars.
The company's revenue rose 6% to 10.3 million denars in the review period.
Domestic sales increased 5% to 9.7 billion denars, while sales abroad advanced 16% to 561.1 million dnears.
Makpetrol has a network of over a hundred fuel stations across Macedonia. The company also has units in neighbouring Serbia and Greece.
(1 euro = 61.63 denars)