N. Macedonia's Zito Polog doubles 9-mo net profit

October 25 (SeeNews) - North Macedonia's flour milling and baked goods company Zito Polog [MSE:ZPOG] said on Tuesday that its net profit rose to 12.7 million denars ($202,946/205,599 euro) in the first nine months of 2022 from 5.8 million denars in the same period of last year.

Operating expenses increased 48% on the year in the January-September period, to 308.6 million denars, as costs of consumed materials rose 87% to 247.1 million denars, the company said in an interim financial statement filed with the Macedonian Stock Exchange (MSE).

The company's operating revenue grew 54% year-on-year to 332.8 million denars in the review period.

Domestic sales were 77% higher at 317.4 million denars, while sales abroad fell 70% to 8.6 million denars in the first nine months of 2022.

The company's shares last traded on the MSE on April 15 at an average price of 2,200 denars.

(1 euro = 61.57 denars)