Uzbek tobacco manufacturer ups net profit

Business Materials 24 May 2011 13:22 (UTC +04:00)
Uzbek tobacco manufacturer ups net profit

Uzbekistan, Tashkent, May 24 / Trend D.Azizov /

The exclusive manufacturer of tobacco products in Uzbekistan UzBAT SA increased its net profit by 46.6 percent up to 104.532 billion soums in 2010 compared to 71.3 billion sums in 2009 compared, the company said.

The Samarkand cigarette factory produced 13.949 billion cigarettes in 2010, which is 9.4 percent more than in 2009. The volume of purchases of tobacco leaf was 8,600 tons compared to 6,100 tons a year earlier (an increase of 41 percent).

The report does not specify the total volume of cigarette sales in the domestic market and its dynamics.

Export sales increased by three times and amounted to 1.955 billion cigarettes compared to 650 million in 2009. Exports of tobacco leaf declined by almost 1.6 times to 3,027 tons compared to 4,797 tons.

The company's revenue amounted to 392.69 billion soums in 2010 compared to 314.99 billion soums in 2009 (an increase of 24.7 percent), the cost rose to 168.9 billion soums compared to 145.2 billion soums ( an increase of 16.3 percent ) and its total cost rose to 92.99 billion soums compared to 80.36 billion soums (an increase of 15.7 per cent), the report said.
The company's assets increased from 427.563 billion soums in 2009 up to 568.376 billion soums in 2010 and capital investments - from 1.963 billion soums up to 5.454 billion soums.
In 1994, British American Tobacco purchased 51 percent shares of the corporation "Uztabak" and created a joint venture UzBAT SA. The authorized fund of the company is 5.668 billion soums. Uzbekistan Investment Ltd, a subsidiary of British company, owns 97.35 percent of shar
The total cost of the investment program is more than $ 300 million. About $ 100 million is the cost of a cigarette factory, built in Samarkand in 1997, producing 12 billion cigarettes annually.

UzBAT SA sells 30 brands of cigarettes on the Uzbek market, including such well-known international brands as Lucky Strike, Kent, Dunhill and Pall Mall, as well as national brands Xon, Karvon, Astra.