Net loss of Uzbek-US engine JV down by nearly 4 times
Tashkent, Uzbekistan, June 16
By Demir Azizov – Trend:
General Motors Powertrain Uzbekistan (GMPT Uzbekistan), an engine joint venture of Uzbekistan’s Uzavtosanoat JSC and the US’s General Motors, has said in a recent report that its net loss, calculated in line with the International Financial Reporting Standards, fell by 3.9 times to 86.458 billion soums in 2016 as compared to 337.546 billion soums in 2015.
Earlier, the company’s report drafted in line with national accounting standards said that GMPT Uzbekistan increased its net profit by 2.7 times in 2015 as compared to 4.058 billion soums in 2014.
According to the current report, revenues from the sale of products decreased by 34.7 percent to 249.641 billion soums, cost of sold products decreased by 33.1 percent to 209.617 billion soums, and gross profit fell by 42.1 percent to 40.024 billion soums.
The company’s assets amounted to 632.142 billion soums (a decrease by 5.1 percent) in 2016, including fixed assets that totaled 492.064 billion soums (a decrease by 5.5 percent).
The company’s authorized capital remained unchanged at level of 2015 – at 139.837 billion soums. Total volume of liabilities of GMPT Uzbekistan rose by 8.5 percent to 674.503 billion soums in 2016.