Azerbaijani's InvestAz ends 1H2019 with loss
Baku, Azerbaijan, Aug. 19
By Eldar Janashvili - Trend:
Azerbaijani company InvestAz completed the first half of the year with a loss of 256,400 manats, while 2018 was completed with a profit of 888,554 manats, Trend reports referring to the company.
According to the company's financial report, its operating profit for six months was generated by revenues of 1.474 million manats (a decline of 37 percent) and expenses of 1.224 million manats. The volume of operating profit amounted to 250,400 manats, which is 1.235 million manat less than at the beginning of the year.
The total assets in the balance sheet of the company amounted to 10.933 million manats, having decreased by 5 percent compared to the previous year. In the structure of assets, the main share of assets (79 percent) was cash and their equivalents - 9.719 million manats. For six months, the volume of cash decreased by 0.8 percent.
The total volume of liabilities amounted to 8.934 million manats, 3.4 percent less than in 2018. The volume of issued debt securities decreased by a third and amounted to 1.704 million manats.
The total capital of the company also decreased by 11.4 percent to 1.918 million manats, mainly due to a 1.6-fold reduction in retained earnings to 398,300 manats.
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