Cementarnica Usje reports 5% rise in profit

North Macedonia's Cementarnica Usje (Titan group) has reported a 5.1 per cent YoY decline in net profit to MKD182.1m (US$3.6m) in the first quarter of 2021. However, operating revenue increased 9.4 per cent to MKD924.8m.

Domestic sales advanced 9.6 per cent to MKD623.4m, while sales from foreign markets rose 24.3 per cent to MKD272.9m.

Operating expenses grew 7.6 per cent YoY to MKD699.9m in the first quarter, as costs for materials were up by 84.9 per cent to MKD64.7m.