May 13 (SeeNews) - North Macedonia-based retailer Skopski Pazar AD Skopje [MSE:SPAZ] said on Wednesday that its net profit grew 17% year-on-year in the first quarter of 2020, reaching 19.7 million denars ($347,063/319,072 euro).
Skopski Pazar's operating revenue was down about 11% on the year to 69.5 million denars in the first three months of the year, the company said in an interim financial statement filed with the Skopje bourse.
The retailer reported an annual decrease of 23% in its operating expenses to 45.6 million denars in the review period, as costs of materials fell to 10.5 million denars from 14 million denars in the like period of 2019.
Skopski Pazar's shares last traded on the Skopje bourse on October 28 at an average price of 18,999 denars per share.
(1 euro = 61.74 denars)