May 20 (SeeNews) - North Macedonian wholesale and retail trade company Skopski pazar [MSE:SPAZ] said that its net profit grew sharply to 14.9 million denars ($270,000/242,000 euro) in the first quarter of 2019 from 1.4 million denars in the same period of 2018.
Skopski Pazar's total operating revenue rose by an annual 6% to 77.9 million denars in the January-March period of 2019, the company said in an interim financial statement last week.
Operating expenses dropped 7% to 59 million denars in the review period, as cost of goods sold shrank 91% to just 501,000 denars.
Payroll costs also decreased, by 10% on the year to 26.3 million denars.
Skopski Pazar's capital expenditure amounted to 4.55 million denars in the period under review.
(1 euro = 61.50 denars)