EVALUATION OF THE FINANCIAL PERFORMANCES OF THE COMPANIES FROM THE CONFECTIONERY INDUSTRY IN NORTH MACEDONIA

The purpose of the paper is to conduct an evaluation of the financial performances of the companies from the confectionery industry in North Macedonia. The companies that are evaluated and analyzed are competitive within the food sector, i.e. the confectionery industry. The objective of this research is to highlight and compare the financial situation of Evropa AD Skopje and Vitaminka AD Prilep as representatives of the confectionery industry in Macedonia. The paper is dedicated to the practical use of financial analysis, analyzing data from the audited financial statements and income statements. The theoretical section of the research contains a discussion regarding the different factors that affect the confectionery industry, an analysis of the most appropriate financial factors that are determined by many researchers, specific financial statements, methods of financial statement analysis and financial ratio analysis. Similarly, the annual performances of the two companies are not analyzed and used in order to choose the best one in the market, rather the selection of the two companies would provide an example to rate how a company’s individual performances are used aiming for comparison with a similar entity that operates in the same market or industry. The study demonstrates that the Macedonian confectionery industry is significantly affected by both companies, especially in the period from 2014 to 2017. Development and stable situations were observed within the studied companies, with positive and negative manners throughout the years, however resulting as a strong pillar of the industry.

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