Baku, Azerbaijan, Sept. 2
By Eldar Janashvili - Trend:
Azerbaijan’s Baku Stock Exchange (BSE) ended 2018 with a net annual profit of 3.718 million manats, while 2017 was completed with a profit of 1.471 million manats, Trend reports referring to the exchange’s audit report.
According to the audit report, the BSE’s profit increased 2.5 times over the year. Its operating income amounted to 5.693 million manats, having doubled compared to the results of the previous year. A substantial part in the revenue structure (96.2 percent) was accounted for by tariff revenues from transactions, which doubled and amounted to 5.478 million manats.
Other income amounted to 215,100 manats. The BSE also received income from interest, which amounted to 328,200 manats (doubled during the year).
The exchange’s expenses amounted to 1.355 million manats, having increased by 35.4 percent. The largest part (62.8 percent) was comprised of staff costs, which increased by almost a quarter to 858,900 manats. General and administrative expenses doubled, from 198,000 manats to 414,300 manats. Depreciation of real estate and equipment, as well as intangible assets amounted to 92,300 manats (increase of 18.9 percent).
The profit of the stock exchange before tax on profit amounted to 4.657 million manats, showing an increase of 2.5 times year on year.
---
Follow the author on Twitter: @eldarjanashvili