Cementarnica Usje Skopje quarterly net profit more than doubles

Macedonian producer Cementarnica Usje Skopje said on Wednesday its net profit more than doubled to MKD301.4m (US$6.7m) in the first quarter of 2014 from MKD140.6m a year ago.

The country's sole cement manufacturer saw operating income rise by 49 per cent YoY to MKD841.9m in the first quarter while operating costs increased by an annual eight per cent to MKD568.5m, Usje said in its income statement sent to Macedonian Stock Exchange.

The company, owned by Titan, operates a 0.9Mta plant located at Usje, near Macedonia’s capital Skopje and around 20km from the Kosovo border.