Tashkent tractor plant to direct net profit for 2009 to cover loss of previous years
Uzbekistan, Tashkent, July 7 / corr Trend D.Azizov /
The Tashkent Tractor Plant (TTP), the largest agrarian technique producer in Uzbekistan, will send the entire amount of net profit achieved in 2009 to cover loss of previous years, the TTP announced.
A decision not to set dividends on the results of 2009, by directing the entire net profit to covering the losses, was taken in an annual meeting of TTP shareholders at late June.
The enterprise's net profit made up 1.885 billion sums in 2009 compared to 7.896 billion a year ago.
According to the enterprise, profits from export of products rose by 1.63 times in 2009 to 78.023 billion sums, fiscal results made up 6.55 billion sums compared to a red ink in the amount of 1.76 billion sums in 2008.
TTP was founded in 1942 on the base of different machine building enterprises evacuated to Tashkent. TTP is specialized in manufacturing cotton growing and universal plough tractors. Presently plant outputs three models of tractors of 10 modifications with the capacity of 30 - 60 horse power and four types of tractor trailers with the carrying capacity of from 0.5 to 5 tomes.
The enterprise's assets rose by 16.8 percent to 121.67 billion sums in 2009, including commodity reserves by 28.5 percent to 54.83 billion sums.
The enterprise increased the output of tractors by 12.3 percent to 2,737 pieces in 2009.
The plant plans to produce 3,000 vehicles in 2010