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N. Macedonia's ZK Pelagonija nearly halves H1 cons net loss

Author Mario Tanev
N. Macedonia's ZK Pelagonija nearly halves H1 cons net loss oticki/Shutterstock.com

SKOPJE (North Macedonia), September 11 (SeeNews) - North Macedonia-based farming company ZK Pelagonija [MSE:ZPKO] said that its consolidated net loss nearly halved to 64.4 million denars ($1.2 million/1.0 million euro) in the first half of 2019 from 117.8 million denars in the same period of 2018.

ZK Pelagonija's operating revenue fell 11% year-on-year to 852.9 million denars in the January-June period of 2019, the company said in an interim financial statement.

Domestic sales dropped 15% to 720.9 million denars, while sales abroad grew 20% to 61.0 million denars.

The company's operating expenses fell 27% year-on-year to 1.0 billion denars, following a decrease in expenses for materials, hired services and salaries. 

Last 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)

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