BAKU, Azerbaijan, Nov. 16
By Tamilla Mammadova – Trend:
Georgian confectionery manufacturer Barambo has received revenue of 48.5 million lari ($14.7 million) in 2019, which is 3 million lari ($914,247) more comparing to 2018, Trend reports via the Barambo's report.
However, the company had ended 2019 with a loss of 1 million lari ($304,749) instead of profit. For comparison, the profit of Barambo has made up 2.15 million lari ($655,210) in 2018.
The sales of "Barambo" products in 2019 were as follows:
• Revenue from sales on the local market - 45.2 million lari ($13.7 million), an increase of 8.7 percent over the previous year;
• Revenue from export sales - 3.3 million lari ($1 million), a decrease of 13.6 percent over the previous year.
According to the financial report, the main expenses of the company were related to the purchase of raw materials, for which "Barambo" spent 28.9 million lari ($8.8 million). In second place were the salaries of employees, which amounted to 3.15 million lari ($959,959), electricity and utility costs - 1.26 million lari ($383,983), and depreciation costs - 1.22 million lari ($371,793).
The company spent 4.4 million lari ($1.3 million) on product marketing and distribution in 2019.
As of 2019, the company's assets amounted to 67.9 million lari ($20.6 million).
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