Baku, Azerbaijan, August 1
By Elena Kosolapova – Trend:
Kazakh Azia Avto car assembly plant got 457.64 million tenge (352 tenge = $1) worth of profit in the second quarter of 2016 compared to 1.55 billion tenge loss in the same period of 2015, said the consolidated financial statements of the company published on the website of Kazakh stock exchange KASE.
The income of the company in the reporting period was 11.81 billion tenge compared to 18.63 billion tenge in the same period of 2016.
Operating profit of Azia Avto was 1.6 billion tenge in the second quarter of 2016 compared to 848.1 million tenge in the same period of 2015.
The assets of the company decreased from 50.73 billion tenge at the beginning of 2016 to 45.89 billion tenge of the end of June. Liabilities decreased from 51.45 billion tenge to 46.14 billion tenge in 1H of 2016.
Car manufacturing has dropped by 62.2 percent in Kazakhstan in H1 2016, as compared to the same period in 2015, and stood at 2,980 cars, according to the Kazakh Statistics Committee.
Three large car plants – Azia Avto, SaryarkaAvtoProm and Agromashholding - operate in Kazakhstan. These plants manufacture Kia, Chevrolet, Skoda, Hyundai, SsangYong, Peugeot and other car brands.
Edited by SI
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