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N. Macedonia's Zito Polog net profit rises 71% in Jan-Sept

N. Macedonia's Zito Polog net profit rises 71% in Jan-Sept S_Photo/Shutterstock.com

SKOPJE (N. Macedonia), October 20 (SeeNews) - North Macedonin flour milling and baked goods company Zito Polog [MSE:ZPOG] said on Wednesday that its net profit rose to 5.8 million denars ($109,500/94,100 euro) in the first nine months of 2021 from 3.4 million denars in the same period of last year.

Zito Polog lowered its operating expenses 7% on the year, to 208.6 million denars in the January-September period, as costs of consumed materials dropped 19% to 132.1 million denars, the company said in an interim financial statement filed with the bourse in Skopje, MSE.

The company's operating revenue fell 6% year-on-year to 216.3 million denars in the review period.

Domestic sales were 17% lower at 179.1 million denars, while sales abroad jumped to 28.5 million denars in the first nine months of 2021, compared with 10.2 million denars booked a year earlier.

The company's shares last traded on the MSE on July 20 at an average price of 2,317 denars.

(1 euro = 61.65 denars)

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