November 1 (SeeNews) - North Macedonia-based flour milling and baked goods company Zito Polog [MSE:ZPOG] said that its consolidated net profit jumped to 20.2 million denars ($367,000/329,000 euro) in the first nine months of 2019 from 1.2 million denars in the same period of last year.
Zito Polog lowered its operating expenses by an annual 17% to 293.3 million denars in the January-September period of 2019, as cost of goods sold dropped 63% to 30.3 million denars, the company said in an interim financial statement earlier this week.
The company's operating revenue fell 14% year-on-year to 305.7 million denars in the review period.
Domestic sales were 9% lower at 288.2 million denars, while sales abroad plunged 52% to 12.3 million denars.
(1 euro = 61.45 denars)