BAKU, Azerbaijan, October 27
By Tamilla Mammadova – Trend:
Kakhetian Traditional Winemaking (KTW) of Georgia published financial report of 2019, Trend reports via the KTW.
According to the document, company’s sales exceeded 100 million lari ($31.1 million) and amounted to 105.2 million lari ($32.7 million).
The report reveals that major part of KTW products is for export.
However, the company’s results by segments are as follows:
• Earnings from export - 93 million lari ($28.9 million), increase of 27.5 percent year-on-year;
• Earnings from wholesales on the local market - 3.13 million lari ($975,014), decrease of 22 percent year-on-year;
• Earnings from retail sales on the local market - 3.16 million lari ($984,359), increase of 5.7 percent year-on-year;
• Earnings from hotel, restaurant and other related services - 3.88 million lari ($1.2 million), increase of 17 percent year-on-year;
• Earnings from the sale of canned fruit - 2.05 million lari ($638,587), increase of 72 percent year-on-year.
According to the financial report of the company, KTW finished 2019 with a net profit of 22.6 million lari ($7.04 million).
The report shows that the total cost of goods sold by the company last year was 63.5 million lari ($20.3 million), administrative expenses were 8.3 million lari ($2.5 million), of which 1.6 million lari were spent on the salaries and 1.2 million lari ($373,807) were vineyard maintenance expenses.
The document shows that the group borrowed 60.1 million lari ($18.7 million) in 2020, which was used to purchase fixed assets.
According to the document, KTW owns more than 10 subsidiary companies and 100 percent stake holder is businessman Zurab Chkhaidze.
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