Macedonian construction firm Beton sets up 3 mineral exploitation companies.

By bne IntelliNews August 26, 2012
Construction company Beton and local engineering firm Pro-invest have established three companies for exploitation of mineral resources in Macedonia, Beton said in statements published on the website of the Macedonian Stock Exchange. Beton holds 99% stakes in the two companies that own concessions for dolerite exploitation at sites located in the municipalities of Dojran and Lipkovo. Beton also has a controlling 51% stake in the third company that has a concession for limestone exploitation at a site in the municipality of Kumanovo. Sales revenues of Beton increased by 1.8% y/y to MKD 977.4mn (EUR 15.9mn) in H1. The companys operating profit dropped by 11.5% y/y to MKD 36.2mn, while its pre-tax profit grew by 11% to MKD 36.1mn over the period. The firm commented that it expects higher profits in the coming period in view of the intensified market activity, the investments in the sector, as well as the announcements of increased investments in civil engineering and hydro construction. The companys total assets stood at MKD 3.12bn at end-June, and the equity amounted to MKD 1.95bn.

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