Cementarnica Usje sees profit up 20%

North Macedonia's Cementarnica Usje (Titan) has seen a 20 per cent YoY increase in net profit to MKD1.5bn (US$29.3m) for 2020. Operating revenue edged up to MKD5.06bn from MKD5.03bn in 2019.

Domestic sales rose three per cent YoY to MKD3.2bn, while sales on foreign markets fell 2.6 per cent to MKD1.6bn.

Operating expenses also dropped by 5.9 per cent YoY to MKD3.4bn in 2020, as costs for materials were down 11.5 per cent to MKD1.5bn.