May 20 (SeeNews) - North Macedonian soft drink producer Fruktal Mak [MSE:KONZ] said that its net profit fell by an annual 25% to 3.3 million denars ($60,000/54,000 euro) in the first quarter of 2019, following a sharp rise in expenses.
Fruktal Mak's operating expenses grew 50% year-on-year to 82.9 million denars in the first three months of the year, the company said in an interim financial statement last week.
The rise was mainly due to a 61% increase in expenses for materials, which totalled 56.2 million denars in the review period.
Operating revenue grew 21% on the year to 82.6 million denars in the review period.
Domestic market sales rose 34% to 49.5 million denars, while sales abroad added 6% to 31.8 million denars.
(1 euro = 61.51 denars)