May 15 (SeeNews) - North Macedonia's baked goods producer Zito Luks [MSE:ZILU] said on Friday that it has narrowed its non-consolidated net loss to 6.8 million denars ($119,196/110,268 euro) in the first quarter from 11.6 million denars in the like period of 2019.
Zito Luks' sales revenues increased by 4.5% year-on-year to 263.7 million denars in the January-March period, the company said in an interim financial statement filed with the Skopje bourse.
Domestic sales rose by 5% at 252.7 million denars, while sales abroad fell 8.7% to 11 million denars.
Cost of goods sold rose 4.2% to 195.7 million denars in the period under review.
The company's financial expenses totalled 4.1 million denars in the first three months of 2020, down 26% on an annual comparison basis.
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 = 61.66 denars)