Cementarnica Usje net profit falls 9% in 2017

Macedonia’s Cementarnica Usje reported a nine per cent YoY fall in its non-consolidated net profit to MKD1.09bn (US$61.8m) in 2017.

The Titan-owned company’s operating profit decreased 10 per cent to MKD1.18 as operating expenses rose six per cent to MKD3.33bn, the cement producer said in a bourse filing.

Operating revenues increased by three per cent to MKD4.58bn, driven by a 42 per cent YoY rise in export revenues to MKD1.56bn, which were able to set off a nine per cent contraction in its domestic sales to MKD2.83bn.