August 15 (SeeNews) - Serbian blue-chip agricultural chemicals producer Galenika Fitofarmacija [BEL:FITO] said its net profit fell 10% year-on-year to 1.13 billion dinars ($10.7 million/9.6 million euro) in the first half of 2019, as revenues shrank while expenditure rose.
The operating income declined by an annual 2.2% to 3.2 billion dinars, while operating costs grew 4.6% to 2.2 billion dinars, the company said in its first-half financial statement on Wednesday.
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As a result, Galenika Fitofarmacija's operating profit declined by an annual 16% to 913 million dinars.
Galenika Fitofarmacija's stock last traded on the Belgrade bourse on Friday, closing 3.54% lower at 2,899 dinars.
(1 euro = 117.614 dinars)