August 9 (SeeNews) - North Macedonia-based textile products manufacturer Teteks [MSE:TETE] said that its consolidated net profit grew by an annual 51% to 25.8 million denars ($470,000/420,000 euro) in the first half of 2019, despite the company's worsened operating performance.
Teteks' operating loss widened to 3.4 million denars in the January-June period of 2019 from 724,000 denars in the same period of 2018, the company said in an interim financial statement on Thursday.
The company's operating revenue dropped 25% to 102.5 million denars in the review period, while operating expenses fell 23% to 105.9 million denars.
Teteks' financial revenue grew 63% to 29.5 million denars, while financial expenses added 37% to 359,000 denars.
(1 euro = 61.50 denars)