Cementarnica Usje Skopje net profit falls, Macedonia

Macedonian cement producer Cementarnica Usje Skopje said its nine-month consolidated net profit fell to MKD1.19bn (US$25.1m) from MKD1.56bn a year ago.

Operating income declined by 12 per cent to MKD3.48bn in the first nine months 2012, while operating costs decreased by four per cent to MKD2.31bn, Usje said in its consolidated income statement sent to Macedonia’s Securities and Exchange Commission.

Usje, Macedonia’s sole cement producer, is owned by Greek building materials manufacturer Titan. It operates a 1.4Mta cement works in the capital Skopje.

This year, cement consumption in Macedonia is expected to decline 22 per cent to 0.67Mt from the 0.82Mt.