BAKU, Azerbaijan, Oct.28
By Sadraddin Aghjayev - Trend:
The expansion of the Bravo supermarket chain creates the basis for further profit, Chief Financial Officer of the Bravo supermarket chain Samir Balashov told Trend.
According to Balashov, the losses recorded in the first years did not seriously damage the stability of the supermarket chain.
“At first, the unprofitable indicators for us cannot be called a bad result, since the network is regularly expanding, and this, in turn, creates the basis for further profit,” Balashov said.
Earlier it was reported an auction on placement of bonds of the Bravo supermarket chain, which is a part of Azerbaijan Supermarket LLC, was held at the Baku Stock Exchange (BSE) on October 28.
It is reported that 10,000 bonds were placed with a par value of 1,000 manats ($588.41) each in the amount of 10 million manats ($5.9 million) with a circulation period of three years and at an annual rate of 10.5 percent.
It is noted that, the Bravo supermarket chain has placed its bonds on the stock exchange for the first time.