Baku, Azerbaijan, Sept. 20
By Eldar Janashvili – Trend:
Azerbaijani leasing company Standard Leasing company ended 2018 with a net annual profit of 1.56 million manats, while 2017 was completed with a profit of 760,000 manats, Trend reports referring to the company's financial report.
According to the report, Standard Leasing’s profit more than doubled over the year. The company's net financial income amounted to 1.427 million manats (decrease of 6.9 percent), and was formed through attracting reserves for impairment of receivables in the amount of 1.255 million manats (decrease of 4.2 percent) and income from financial leasing in the amount of 131,500 manats, the volume of which (on an annualized basis) decreased by almost 3.4 times.
Operating income from leasing amounted to 1.853 million manats, which is 17.6 percent more than a year earlier. Other income amounted to 197,400 manats. The company's expenses from operations with foreign currency amounted to 12.259 million manats - 12.3 times less than in 2017. Administrative and other operating income amounted to 1.729 million manats, having increased by 7.8 percent compared to the previous year. The remaining expenses amounted to 44,100 manats.
Overall, Standard Leasing's expenditures decreased by 29 percent from 2.505 million to 1.785 million manats. The company's profit before paying income tax amounted to 1.692 million manats, having doubled over the reporting period.
----
Follow the author on Twitter: @eldarjanashvili