Tobacco producer’s profit increases in Uzbekistan
Tashkent, Uzbekistan, May 27
By Demir Azizov- Trend:
The net profit of British American Tobacco's a subsidiary - BAT Uzbekistan, which is the exclusive producer of tobacco products in Uzbekistan, increased by 35.6 percent up to 314.972 billion soums upon the International Financial Reporting Standards (IFRS) in 2015 compared to 2014, the company's report said.
The company's assets increased by 29.6 percent up to 1.885 trillion soums, including long-term assets - by 1.5 times up to 197.107 billion soums, current assets - by 27.5 percent up to 1.688 trillion soums.
The volume of the company's cigarette production in 2015 has not been indicated.
The company's net revenues increased by 19.9 percent up to 837.601 billion soums, the production cost - by 19.1 percent up to 289.061 billion soums. The company's gross profit amounted to 546.848 billion soums (21.2 percent-growth), operating profit - 440.691 billion soums (42.4 percent-growth), profit before taxation - 368.817 billion soums (34.6 percent-growth).
The report for the year is the company's first financial statements prepared in accordance with IFRS.
The company's financial statements have been prepared upon the national financial reporting standards for the previous years.
It was previously reported that British American Tobacco bought a 51-percent-stake from the UZ Tobacco corporation in 1994 and established BAT Uzbekistan.
The company sells about 30 types of cigarettes on the Uzbek market.
As of May 27, the official exchange rate is 2919.35 soums/$1.