August 21 (SeeNews) - North Macedonia-based fuel storage and transport company Oilco KDA [MSE:OILK], a unit of local Makpetrol [MSE:MPT], said that its first-half net profit nearly tripled to 12.4 million denars ($224,000/202,000 euro), up from 4.4 million denars in the January-June period of 2018.
Oilco KDA's operating revenue rose 11% year-on-year to 196.9 million denars in the first six months of 2019, the company said in an interim financial statement.
Domestic sales increased 9% to 179.9 million denars, while sales abroad jumped 71% to 16.4 million denars.
The company's operating expenses grew 7% on the year to 182.7 million denars, largely due to higher expenses for materials and personnel costs.
(1 euro = 61.49 denars)