Cementarnica Usje sees 9M net profit up 77%

North Macedonia-based Cementarnica Usje, owned by Greek cement producer Titan, reported 77 per cent YoY increase in net profit to MKD1.1bn (US$19m) in the January-September 2023 period.

The company’s operating expenses declined 17 per cent YoY to MKD3.4bn in the 9M23 as material costs fell 23 per cent YoY to MKD1.9bn.

It total operating revenue slipped by two per cent YoY to MKD4.8bn in the 9M23.