Azerbaijan, Baku, July 3 / Trend H.Veliyev /
The assets of the Baku Telephone Communications production union in 2011 grew by 8.6 percent to 139.6 million manat, the union's balance sheet said on Tuesday.
Financial statements were audited by local Eskort accounting firm.
Long-term assets at the end of 2011 totaled 86.6 million manat, increasing by 5.5 percent compared to 2010.
Funds generated from operations of the union last year amounted to 27.04 million manat, almost doubling compared with the year before last.
Authorised capital amounted to 5.8 million manat, and total capital and reserves - 53.1 million manat, which, compared to 2010, is less by 9.7 percent.
Total liabilities amounted to 86.5 million manat (with growth of 24 per cent).
Total revenue of Baku Telephone Communications following 2011 totaled 48.9 million manat, increasing by 30.6 percent during the year. Profit of the state operator last year totaled 2.9 million manat, which is 21.2 percent higher than in 2010.
The official exchange rate is 0.7856 AZN to $1 on July 3.