Uzbekistan’s Almalyk complex sees increasing profit

Business Materials 12 July 2016 17:16 (UTC +04:00)

Tashkent, Uzbekistan, July 12

By Demir Azizov – Trend:

The Almalyk Mining-Metallurgical Complex JSC of Uzbekistan had a net profit of 273.827 billion soums ($1=2953.84 soums) in 2015, calculated in accordance with International Financial Reporting Standards (IFRS).

The figure is 55.9 percent more than in 2014, says the company’s report issued July 12.

The company’s gross profit increased 27.5 percent to 1.168 trillion soums, while the operating profit rose 39.8 percent to 577.905 billion soums, and the profit before income tax rose 24.5 percent to 422.013 billion soums.

There is no data on the Almalyk complex’s production performance in 2015 in the report.

The Almalyk Mining-Metallurgical Complex is one of the largest producers of non-ferrous metals in Central Asia and the only copper producer in Uzbekistan. It accounts for about 90 percent of silver output and 20 percent of gold output in the country.

The complex has two mining companies, two concentrate plants and two metallurgical plants with its own infrastructure.