Net profit of Uzbek-Spanish JV increases in 2015
Tashkent, Uzbekistan, June 8
By Demir Azizov- Trend:
The net profit of the Uzbek-Spanish joint venture Ammophos-Maxam has increased to 23.128 billion soums in 2015, as compared to 398.715 million soums in 2014 (an increase by 56 times), according to the company's financial statement.
The official exchange rate on June 8 is 2929.14 soums/$1.
However, Ammophos-Maxam, which is one of the largest enterprises in Uzbekistan for producing phosphate fertilizers, hasn't commented on such a sharp increase in its profit.
The company's revenues from the sale of products has increased from 226.997 billion soums to 271.556 billion soums (an increase by 19.6 percent) in a year, while its production cost grew by 7.6 percent and stood at 213.778 billion soums, according to the financial statement.
The gross profit of Ammophos-Maxam has doubled and stood at 57.787 billion soums.
The company's assets increased by 28.8 percent in 2015 and stood at 430.463 billion soums, its long-term assets grew by 1.5 percent and totalled 62.801 billion soums, current assets - 367.663 billion soums (35 percent).
Ammophos-Maxam JSC was commissioned in 1969.