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N. Macedonia's ZK Pelagonija widens Q1 cons net loss

Author Mario Tanev
N. Macedonia's ZK Pelagonija widens Q1 cons net loss oticki/

SKOPJE (North Macedonia), June 4 (SeeNews) - North Macedonia-based farming company ZK Pelagonija [MSE:ZPKO] said that its consolidated net loss widened to 43.2 million denars ($787,000/700,000 euro) in the first quarter of 2019 from 40.2 million denars in the same period of 2018.

The company's total operating revenue dropped 13% to 407.1 million denars in the January-March period, ZK Pelagonija said in an interim financial statement last week.

Domestic sales revenue plunged 17% to 354.1 million denars, while sales abroad grew 56% to 34.5 million denars.

Inventories of finished and unfinished goods fell by 25.8 million denars throughout the first quarter of 2019, which compares to an increase of 66.8 million denars during the same period of last year.

Operating expenses fell 26% year-on-year to 407.7 million denars, after a 36% drop in expenses for materials, which amounted to 161.9 million levs in the first three months of 2019.

(1 euro = 61.71 denars)