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Nov 12, 2019 16:24 EEST
November 12 (SeeNews) - North Macedonia-based industrial pumps maker MZT Pumpi [MSE:] said that its net profit grew by an annual 50% to 1.6 million denars ($29,000/26,000 euro) in the first nine months of 2019, backed by a sharp rise in financial revenue.
MZT Pumpi's financial revenue jumped to 11.5 million denars in the review period from 680,000 denars the year before, the company said in an interim financial statement.
Financial expenses edged up 3% to 3.9 million denars.
The company's operating revenue fell 4% to 114.2 million denars, hurt by lower exports. Domestic sales rose 15% to 61.1 million denars, while sales abroad dropped 20% to 52.5 million denars.
MZT Pumpi's total operating expenses decreased 10% to 106.3 million denars, as expenses for materials were 15% lower at 46.7 million denars.
(1 euro = 61.53 denars)
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