Baku, Azerbaijan, May 21
By Maksim Tsurkov – Trend:
Azerbaijan Caspian Shipping closed joint-stock company (CJSC) increased its capital by 14.4 percent in 2017, according to the financial report of the company, published on its official website.
During the reporting period, the total capital of the company increased from 807.41 million manats to 923.54 million manats. Share capital of the Azerbaijan Caspian Shipping Company in the accounting period has not changed and stood at 440.05 million manats.
In 2017, the assets of the company increased by 14.2 percent and amounted to 1030.15 million manats. The major part of the assets, 74.5 percent, or 767.44 million manats were long-term assets, which increased by 14.7 percent in the reporting period.
Vessels and fixed assets accounted for 87.3 percent (669,85 million manats) of the long-term assets.
Long-term advance payments accounted for 94.05 million manats (12.3 percent of long - term assets), and tax assets with deferred payment accounted for 1.1 million manats (0.1 percent of long-term assets). The remaining part of the long-term assets accounted for intangible assets (2.44 million manats).
The current assets of the company increased by 12.8 percent and amounted to 262.71 million manats in the reporting period. The major part of current assets were trade and other receivables, which accounted for 59.4 percent of the total current assets (155.92 million manats). The stocks of goods and materials accounted for 28.5 percent of current assets (74.95 million manats).
The company completed 2017 with a net profit of more than 100.13 million manats, which is 7.5 percent lower than in 2016. The company's revenues for the reporting period amounted to 474.31 million manats, an increase of 4.3 percent for the year.
The financial statements of the Azerbaijan Caspian Shipping CJSC have been audited by EY.
( 1USD = 1,7 AZN on May 21, 2018)
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