May 21 (SeeNews) - North Macedonian food company Vitaminka [MSE:VITA] said that its non-consolidated net profit plunged by an annual 46% to 12.2 million denars ($221,000/198,000 euro) in the first quarter of 2019.
The company's total operating expenses grew 36% year-on-year to 519.2 million denars in the first three months of the year, as expenses for materials soared 42% to 330.7 million denars, Vitaminka said in an interim financial statement last week.
Total operating revenue increased 40% on the year to 573.4 million denars in the January-March period of 2019.
Domestic sales gained 46% to 327.5 million denars, while sales abroad added 31% to 232.9 million denars.
Inventories of finished and unfinished goods dropped by 34 million denars over the course of the review period, compared to an increase of 1.5 million denars in the same period of 2018.
Vitaminka specialises in the production of chocolate confectionery and crisp snacks.
(1 euro = 61.48 denars)