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N. Macedonia's ZK Pelagonija narrows H1 non-cons net loss

Author Mario Tanev
N. Macedonia's ZK Pelagonija narrows H1 non-cons net loss oticki/

SKOPJE (North Macedonia), August 27 (SeeNews) - North Macedonia-based farming company ZK Pelagonija [MSE:ZPKO] said that its non-consolidated net loss narrowed to 121.9 million denars ($2.2 million/2.0 million euro) in the first half of 2019 from 179.1 million denars in the same period of 2018.

ZK Pelagonija's operating revenue gained 12% year-on-year to 368.3 million denars in the January-June period of 2019, the company said in an interim financial statement.

Domestic sales edged up 2% to 290.8 million denars, while sales abroad soared 749% to 47.6 million denars.

The company's operating expenses fell 20% year-on-year to 584.5 million denars, following a decrease in expenses for materials and other operating expenses.

Earlier this month, ZK Pelagonija said that it is inviting bids for the acquisition of its unit - biogas-fired power plant operator Pelagonija Energy. Pelagonija Energy has a registered capital of some 413.9 million denars.

(1 euro = 61.54 denars)