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N. Macedonia's Zito Luks turns to H1 net loss, revenue edges down

Author Mario Tanev
N. Macedonia's Zito Luks turns to H1 net loss, revenue edges down Author: Ken Teegardin. License: Creative Commons, Attribution 2.0 Generic.

SKOPJE (North Macedonia), September 11 (SeeNews) - North Macedonia-based baked goods producer Zito Luks [MSE:ZILU] said that it turned to a net loss of 5.1 million denars ($91,000/83,000 euro) in the first half of 2019 from a net profit of 5.5 million denars in the same period of 2018.

Zito Luks' sales revenue edged down 1% year-on-year to 516.3 million denars in the January-June period of 2019, the company said in an interim financial statement last week.

Cost of goods sold rose by an annual 2% to 367.4 million denars.

The company's administrative costs grew 8% to 35.8 million denars, while sales and marketing costs fell 10% to 110.8 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 = 61.53 denars)

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