Sales revenues of Macedonian firm Strumica Tabak up 15.6% y/y in Jan-Sep.

By bne IntelliNews November 9, 2012
Sales revenues of Strumica Tabak, a company for production, purchasing and processing of tobacco, increased by 15.6% y/y to MKD 891.4mn (EUR 14.5mn) in Jan-Sep, according to the income statement published on the website of Macedonias securities commission. Revenues from exports grew by 14.5% y/y to MKD 882.5mn in the first nine months of this year. Nevertheless, the companys operating profit declined by 57.2% y/y to MKD 38.2mn over the period. The net profit contracted by 79.4% y/y to MKD 18.3mn in Jan-Sep. The bigger drop of the net profit reflects a significant increase in expenses for interest and exchange rate differences. Strumica Tabak is a member of Thessaloniki-headquartered Leaf Tobacco A.Michailides Group.

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