May 4 (SeeNews) - North Macedonia-based steel mill Makstil [MSE:STIL] said that its net profit soared to 231.7 million denars ($4 million/3.8 million euro) in the first quarter of 2022, compared with a 72.1 million denars profit booked in the same period of last year.
Total operating revenue in the first quarter of 2022 was 93% higher on an annual comparison basis, at 2.6 billion denars, Makstil said in an interim financial statement filed with the Skopje bourse last week.
Total operating expenses grew 66% year-on-year to 2.1 billion denars in the first quarter, as the cost of consumed materials rose to 1.7 billion denars from 862.2 million denars in the like period of 2021.
Makstil produces hot rolled heavy plates. Its main shareholder is Liechtenstein-based Duferco Group, which operates in steel production and distribution, energy trading, shipping and logistics, and engineering.
Makstil's shares traded at an average price of 144 denars on Tuesday on the Macedonian Stock Exchange (MSE), according to the most recent bourse data available.
(1 euro = 61.57 denars)