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Azerbaijan Caspian Shipping Company ends 2021 with profit

Finance Materials 4 May 2022 11:52 (UTC +04:00)
Azerbaijan Caspian Shipping Company ends 2021 with profit
Kamran Gasimov
Kamran Gasimov
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BAKU, Azerbaijan, May 4. Azerbaijan Caspian Shipping Company CJSC (ASCO) ended 2021 with a net profit, Trend reports via the CJSC's financial statement.

According to the financial statement, the net profit exceeded 51.7 million manat ($30.4 million).

Besides, according to the data confirmed by auditor’s report, operating incomes of ASCO last year amounted to 459.1 million manat ($270 million), and other operating incomes – 21.7 million manat ($12.7 million).

Meanwhile, cost of sales of the company equaled 306 million manat ($180 million), administrative costs – 39.9 million manat ($23.4 million), social expenses - 7.1 million manat ($4.1 million), and other operating expenses - 58.6 million manat ($34.4 million).

ASCO’s profit before payment of taxes made up 66.5 million manat ($39.1 million), and profit tax paid by the company – 14.7 million manat ($8.6 million) in 2021.

At the same time, its assets increased by 2.21 percent - up to 1.29 million manat ($760,000), and capital - by 5.41 percent - up to 1.08 million manat ($640,000) on annual basis.

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