Cementarnica Usje 1H14 net profit up 28% YoY

Macedonian producer Cementarnica Usje AD Skopje said on Tuesday its consolidated net profit rose 28 per cent to MKD789.2m (EUR12.8m) in the first half of 2014.

Operating revenue rose by 15 per cent to MKD2bn in the six months to the end of June while operating costs increased five per cent to MKD1.3bn, Usje said in a consolidated financial statement.

Usje is Macedonia’s sole cement producer, owned by Greek cement major Titan by means of a 94.8 per cent stake. Its 0.9Mta production plant is located at Usje, near the country’s capital Skopje and around 20km from the Kosovo border.