Macedonia: Cementarnica Usje Skopje net profit increases 12% YoY

Macedonia’s sole cement producer, Cementarnica Usje Skopje, reported that non-consolidated net profit rose 12 per cent to MKD1.48bn (EUR24m) in 2013.

Revenue fell by five per cent YoY to MKD3.9bn while operating costs decreased to 14 per cent to MKD2.6bn, the company said in its non-consolidated financial statement to the Macedonia Stock Exchange.

The company is 94.8 per cent owned by Greece-based Titan Cement. Its 0.9Mta plant is located at Usje, near the country’s capital Skopje and around 20km from the Kosovo border.