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N. Macedonia's Okta turns to 9-mo net profit, ups revenue

Author Mario Tanev
N. Macedonia's Okta turns to 9-mo net profit, ups revenue The Okta oil refinery. Author: Hellenic Petroleum. License: All rights reserved.

SKOPJE (North Macedonia), November 20 (SeeNews) - North Macedonia-based oil refinery Okta [MSE:OKTA] said that it turned to a net profit of 161.7 million denars ($2.9 million/2.6 million euro) in the first nine months of 2019 from a net loss of 4.9 million denars in the same period of 2018.

Okta's sales revenue edged up 1% year-on-year to 20.3 billion denars in the January-September period of 2019, the company said in an interim financial statement.

Domestic sales fell 9% to 16 billion denars, while sales abroad jumped 67% to 4.3 billion denars.

Cost of goods sold also added 1%, to 19.5 billion denars in the review period.

Okta's administrative costs decreased 12% to 168.2 million denars, while sales and marketing costs fell 4% to 417.3 million denars.

Okta, a member of the Hellenic Petroleum Group, owns crude oil refining facilities with nameplate capacity of 2.5 million metric tons and storage facilities with total capacity of 350 million liters.

(1 euro = 61.47 denars)