March 30 (SeeNews) - North Macedonia's retailer Skopski Pazar [MSE:SPAZ] said it expects to book a net profit of 65.6 million denars ($1.2 million/1.1 million euro) in 2022, lower than the 66.6 million denars profit it made last year.
Operating revenues are projected to fall to 283.6 million denars in 2022, from 289.4 million denars last year, the company said in its 2022 financial plan unveiled on Tuesday.
The revenue projections are in line with the market conditions, the competition environment and the planned investments, Skopski Pazar said.
The company added it intends to continue to invest in the modernisation of its greenmarkets and finish the reconstruction of its Bit Pazar greenmarket in 2022.
Last year, the company said it will invest 30 million denars in the overhaul of its greenmarkets. Its project for the reconstruction of the Bit Pazar greenmarket is valued at 240 million denars, according to an earlier statement by the company.
Skopski Pazar owns and operates 12 greenmarkets in the country.
Its shares last traded on the Macedonian Stock Exchange (MSE) at an average price of 5,300 denars on June 22.
(1 euro = 62.31 denars)