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N. Macedonia's Zito Luks posts sharp drop in Jan-Sept net profit

Author Mario Tanev
N. Macedonia's Zito Luks posts sharp drop in Jan-Sept net profit Author: Ken Teegardin. License: Creative Commons, Attribution 2.0 Generic.

SKOPJE (North Macedonia), November 20 (SeeNews) - North Macedonia-based baked goods producer Zito Luks [MSE:ZILU] said that its net profit plunged by an annual 95% to just 645,000 denars ($11,600/10,500 euro) in the first nine months of 2019.

Zito Luks' sales remained unchanged year-on-year at 804.1 million denars in the January-September period of 2019, the company said in an interim financial statement.

Domestic sales edged down 1% to 772.5 million denars, while sales abroad grew 25% to 31.6 million denars.

Cost of goods sold rose 2% on the year to 567 million denars in the review period. 

Administrative costs increased 10% to 50.8 million denars, while sales and marketing costs fell 7% to 172.6 million denars.

Zito Luks is part of international grain group Elbisco SA Greece.

The company operates a mill with 50,000 tonnes capacity and five bread production lines.

(1 euro = 61.51 denars)

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