Foreign Trade Company Uzinterimpex increased its net profit by 1.4 times in 2012
Uzbekistan, Tashkent, June 28 / Trend D.Azizov /
State Joint Stock Foreign Trade Company (SJSFTC) Uzinterimpex of the Ministry for Foreign Economic Relations, Investments and Trade of Uzbekistan, increased its net income by 1.4 times in 2012, - up to 4.725 billion soums in comparison with 2011, the balance sheet of the company said.
Last year the net revenue of the company decreased by 13.3 percent - to 11.65 billion soums, the cost price decreased by half - to 1.737 billion soums.
Incomes from financial operations increased by 5.5 percent - up to 2.871 billion soums and expenses from financial operations increased by 57.6 percent - up to 1.238 billion soums.
According to the company, the administrative expenses increased by 28.3 percent - up to 1.855 billion soums, other operating expenses decreased by 15.5 percent - to 6.27 billion soums.
Last year, the gross profit of Uzinterimpex was 9,913 billion soums compared to 9.85 billion soums in the previous year (an increase of 0.6 percent).
The volume of assets at the end of 2012 rose by 9.4 percent - up to 406.517 billion soums.
In 2012 the authorized capital of the company increased by almost 1.7 times - from 3,826 to 6,341 billion soums. Retained earning exceeded 12,698 billion soums compared to 11,326 billion soums - according to the results of 2011 (an increase of 12.1 percent).
Uzinterimpex was created in 1991 within the system of the Ministry of Foreign Economic Relations, Investments and Trade of Uzbekistan.
The main activity sphere of the company is to carry out export-import operations, providing mediatory and consulting services, attracting foreign investments by the creation of joint ventures, both in Uzbekistan and abroad.
The export of cotton constitutes the greatest part of the commodity turnover, the annual exported volume of which exceeds 300,000 tons. Uzinterimpex has seven zonal cotton terminals in the provinces of the republic, which carry out the receipt, storage and shipment of cotton-fiber for export and intra-republican customers. The total volume of one-time storage of cotton in the terminals is about 100,000 tons.
The company also exports cotton fabric, yarn, finished textile products, fresh and canned fruits and vegetables, building materials, nonferrous metals, and imports equipment and modern technology.