Uzbekistan, Tashkent, Feb.29 / Trend, D. Azizov /
The net profit of JSC Akhangarancement, controlled by Russian CJSC "Eurocement Group" has increased by 20 percent in 2011 and amounted to 109.368 billion soums, the company said on Wednesday.
The company's proceeds from the sale of products grew by 32.8 percent, totalling 292.135 billion soums, gross profit by 36.6 percent - up to 187.618 billion soums, and operating income grew by 39.4 percent - up to 180.758 billion soums.
The plant's assets increased by 38.5 percent last year reaching 309.81 billion soums. At present, six cement plants with a total installed capacity of 6.9 million tons operate in Uzbekistan.
JSC Akhangarancement is the second cement producer with its capacity in the country, holding a market share of 27.9 percent. The enterprise's products are exported in particular to Kazakhstan, Kyrgyzstan and Turkmenistan.
In 2006, "Eurocement" acquired 75.5 percent shares of JSC Akhangarancement. At present, the Russian company controls 83.67 percent of the Uzbek plant's authorized capital, while other shareholders are physical entities.
The official exchange rate is1827.89 soums to $1 as of Feb.28.