North Macedonia: Cementarnica Usje, part of Greece-based Titan Group has announced a 13% year-on-year fall in its net profit to Euro16.3m in 2022. It said that the decline in profit was a direct result of rising input prices.
Cementarnica Usje's operating expenses rose by 41% to US$100m in 2022, as costs for materials rose 67% to US$60m. Operating revenue grew by 25% to Euro108m. Domestic sales rose by 26% to Euro66.6m, while export sales rose by 26% to Euro37.3m.
