March 5 (SeeNews) - North Macedonia-based brewer and soft drinks producer Prilepska Pivarnica [MSE:PPIV] said that its net profit jumped to 82.3 million denars ($1.6 million/1.3 million euro) in 2020, compared with a 20 million denars profit booked a year earlier, as costs fell faster than revenue.
Prilepska Pivarnica's operating revenue decreased by an annual 15% to 1.6 billion denars in 2020, while operating costs dropped 20% to 1.6 billion denars, the company said in an annual financial statement filed with the Skopje bourse earlier this week.
The company saw its domestic sales revenue decline 15% on the year to 1.6 billion denars last year. Foreign sales fell 21% to 17.2 million denars.
Cost of goods sold dropped by 39% year-on-year to 282.9 million denars, while expenses for consumed materials fell to 646.3 million denars in 2020, down 10% on an annual comparison basis.
Prilepska Pivarnica was founded in 1924. It produces beer under the trademarks Zlaten Dab and Krali Marko and holds the licences for distributing Tuborg and Carlsberg brands in North Macedonia. It also produces carbonated non-alcoholic drinks, fruit nectar soft drinks and bottles the products of Pepsi Cola International.
(1 euro = 61.32 denars)