May 11 (SeeNews) - North Macedonia's baked goods producer Zito Luks [MSE:ZILU] said that turned to a net profit of 5.5 million denars ($108,400/89,200 euro) in the first quarter of 2021 after booking a 7.1 million denars net loss in the same period of last year.
Zito Luks' sales revenues dropped 3.8% year-on-year to 253.7 million denars in the January-March period, the company said in an interim financial statement filed with the Skopje bourse last week.
Domestic sales fell by 5.7% at 238.4 million denars, while sales abroad rose 38.5% to 15.2 million denars.
However, cost of goods sold was down 8.1% on the year to 180 million denars in the period under review.
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 = 61.67 denars)