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N. Macedonia's Teteks boosts net profit in 2023

Mar 1, 2024, 2:11:48 PMArticle by Dragana Petrushevska
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March 1 (SeeNews) - North Macedonia-based textile products manufacturer Teteks [MSE:TETE] said that its net profit rose 39% year-on-year in 2023, reaching 94.3 million denars ($1.7 million/1.5 million euro), as revenue soared.

N. Macedonia's Teteks boosts net profit in 2023
Author: Joost Nelissen Licence: Creative Commons

Teteks' operating revenue went up 168% on the year to 377.7 million denars, whereas operating expenses increased to 263.9 million denars in 2023 from 74.1 million denars in 2022, the company said in a bourse filing on Thursday.

Domestic sales added 41% to 69.4 million denars, while sales abroad reached nearly 33 million denars last year from just 2.4 million denars in 2022.

Teteks' shares last traded on the Macedonian Stock Exchange (MSE) on February 27, at an average price of 2,800 denars.

(1 euro = 61.60 denars)

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