April 16 (SeeNews) - North Macedonian pension company Sava Penzisko Drustvo [MSE:NVPF] said that its net profit rose to 91.5 million denars ($1.7 million/1.5 million euro) in 2018 from 78.3 million denars the year before.
The company's revenue from pension funds management grew to 217.6 million denars last year from 194.7 million denars in 2017, Sava Penzisko Drustvo said in an annual financial statement.
Expenses for management of pension funds increased to 61.9 million denars in 2018 from 56.5 million denars a year earlier.
Sava Penzisko Drustvo is a wholly-owned unit of Slovenian reinsurer Sava Re [LJE:POSR], according to data from Sava Penzisko Drustvo's website.
(1 euro = 61.53 denars)