Cementarnica Usje sees 21% net profit rise

North Macedonia-based Cementarnica Usje reported a 21 per cent YoY consolidated net profit rise to MKD939.8m (US$16.8m) in the January-September 2019 period.

The Titan-owned company’s operating revenue increased seven per cent to MKD3.58bn in the first nine months of the year. Domestic sales rose by five per cent YoY to MKD2.26bn while export sales increased by 10 per cent YoY to MKD1.20bn.

Operating expenses were up two per cent to MKD2.54bn as expenses for materials rose three per cent to MKD3.18bn.