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N. Macedonia's ZK Pelagonija narrows 9-mo non-cons net loss

Author Mario Tanev
N. Macedonia's ZK Pelagonija narrows 9-mo non-cons net loss oticki/Shutterstock.com

SKOPJE (North Macedonia), November 19 (SeeNews) - North Macedonia-based farming company ZK Pelagonija [MSE:ZPKO] said that its non-consolidated net loss narrowed to 175.8 million denars ($3.2 million/2.9 million euro) in the first nine months of the year from 229 million denars in the same period of 2018.

ZK Pelagonija lowered its operating expenses by an annual 21% to 817.5 million denars in the January-September period of 2019, the company said in an interim financial statement.

The company's expenses for materials dropped 20% to 377.4 million denars in the review period, while personnel expenses rose 6% to 158.6 million denars.

ZK Pelagonija's operating revenue fell 14% to 663.6 million denars, due to lower domestic sales.

Sales in North Macedonia decreased 17% to 571.7 million denars, while exports doubled to 48.2 million denars.

(1 euro = 61.52 denars)

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