Azerbaijan's Azergold predicts amount of net profit for 2021
BAKU, Azerbaijan, Feb.2
By Fidan Babayeva – Trend:
Azerbaijan’s Azergold CJSC expects to obtain nearly 50 million manat ($29.4 million) of the net profit in 2021, the company’s Board Chairman Zakir Ibrahimov said, Trend reports from an event dedicated to the results of 2020 and the upcoming tasks.
"In 2021, positive results of the audit conducted by the independent auditing company Pricewaterhouse Coopers Audit Azerbaijan LLC in accordance with international financial reporting standards are also expected," Ibrahimov noted.
"Throughout the last year, gold-ranked first in the list of Azerbaijan's exported non-oil products (with the revenue making up 349.5 million manat or $205.6 million), and AzerGold played a big role in this success," the chairman stressed.
As he noted, last year the volume of gold and silver supplied by the company to world markets increased. Thus, compared to last year, growth in gold exports was recorded.
"In 2020, from the sale of 59,400 ounces of gold and 119,400 ounces of silver, funds were attracted to the country's economy for a total of 186.5 million manat ($109.7 million). Compared to 2019, growth of income by 41.5 million manat ($24.4 million) or 29 percent was recorded," added Ibrahimov
AzerGold CJSC was established by the decree of the President of Azerbaijan Ilham Aliyev, dated February 11, 2015.
Owing to the export of gold and silver produced by the company to the world market, the country's economy received funds in the amount of 186.5 million manat ($109.7 million).
(1 USD = 1.7 AZN on Feb.2)
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