Azerbaijani leasing company almost doubles profit

Business Materials 30 August 2017 12:52 (UTC +04:00)

Baku, Azerbaijan, Aug. 30

By Azad Hasanli – Trend:

Azerbaijan’s Union Leasing company completed the first half of 2017 with a profit of 766,400 manats (nearly $451,000 as of Aug. 30), which is by 80 percent more than in the same period last year, the company’s financial report said.

In January-June 2017, the leasing company received revenues worth 1.27 million manats. During the same period, the company’s expenses amounted to almost 508,000 manats, including 4,960 manats of administrative expenses and 226,200 manats of commercial expenses.

Union Leasing reduced its assets by 2.1 percent, to 16.26 million manats for the year. In the structure of assets, the biggest part accounted for receivables on leasing operations (16.2 million manats). The company’s liabilities amounted to 22 million manats (a 11.5 percent reduction for the year).

The authorized capital of the company is 40,000 manats.