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N. Macedonia's ZK Pelagonija trims 9-mo cons net loss, expenses

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

SKOPJE (North Macedonia), December 3 (SeeNews) - North Macedonia-based farming company ZK Pelagonija [MSE:ZPKO] said that its consolidated net loss narrowed to 154.9 million denars ($2.8 million/2.5 million euro) in the first nine months of the year from 189.7 million denars in the same period of 2018.

ZK Pelagonija lowered its operating expenses by an annual 17% to 1.45 billion denars in the January-September period of 2019, the company said in an interim financial statement.

The company's expenses for materials dropped 10% to 664.6 million denars in the review period, while personnel expenses decreased 13% to 254.8 million denars.

ZK Pelagonija's operating revenue fell 15% to 1.36 billion denars, due to lower domestic sales.

Sales in North Macedonia decreased 17% to 1.19 billion denars, while exports dropped 25% to 70.9 million denars.

(1 euro = 61.58 denars)

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