Baku, Azerbaijan, Oct. 5
By Elena Kosolapova - Trend:
The profitability of Kazakh national companies is increasingly provided by their financial activity, rather than their main one, according to the Ranking.kz analytical service.
"It is much more profitable for the Kazakh national companies to keep the money on deposits and bank accounts than engage in main activity," the message said. "For the second year in a row, the gross profit from sales of products and rendering services of national companies of Kazakhstan has been three times lower than their income from financing, in particular, for the period from January 2015 to June 2015."
The message said that this trend emerged in 2014, and the difference was very obvious, when the gross margin was 60 percent of the amount of financial income of national companies. This year, revenues fell, the gross profit decreased more than the income from the fund, namely by 43 and 6 percent respectively.
In the first half of 2015, revenues from financing the national companies of Kazakhstan amounted to 247.8 billion tenge (271.05 tenge = $1). However, their gross profit for the period amounted to 92 billion tenge. In the first half of 2014, the corresponding figures of the national companies of Kazakhstan amounted to 264.8 billion tenge and 160.2 billion tenge, respectively.
In previous years, the share of income from financing in the gross profit of the national companies of Kazakhstan was significantly less. Thus, in the first half of 2013, finance income amounted to 38.7 billion tenge given the gross profit of 142.8 billion tenge. In the first half of 2012, revenues from the financing of Kazakh national companies amounted to 42.8 billion tenge given the gross profit of 117.4 billion tenge.
Edited by CN
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