May 11 (SeeNews) - North Macedonian yarn and thread manufacturer Veteks [MSE:VTKS] said on Monday its net profit dropped to 4.96 million denars ($87,200/80,600 euro) in the first quarter of 2020 from 5.13 million denars the same period a year earlier.
Operating revenue decreased by 16% year-on-year to 87.9 million denars, while operating expenses fell 17% to 81.52 million denars, the company said in an interim financial statement filed with the Skopje bourse.
Domestic sales dropped 15.5% to 44.27 million denars, whereas sales abroad fell to 43.63 million denars in the review period, down an annual 17.8%.
(1 euro = 61.55 denars)