BAKU, Azerbaijan, May 27
By Klavdiya Romakayeva - Trend:
Non-preferential shares of Uzbek Metallurgical Plant JSC (Uzmetkombinat) rose after the company disclosed data on more than threefold increase in net profit for the first quarter of 2021, Trend reports referring to press service of the plant.
According to the information, the non-preferential shares of Uzmetkombinat rose by 32.9 percent over the past 30 days. The closing price of transactions on April 26 was 46,500 soums ($4.38), and on May 26, their price has already reached 61,800 soums ($5.82) at the Toshkent Republican Stock Exchange.
It is noted that the company's securities were included in the top five most popular among users of the stock exchange in the period from May 1 to May 26. The total amount of purchase and sale transactions with shares of the enterprise during this period reached 898.9 million soums ($84,718) for 544 transactions.
For comparison, during the same period in April, some 212 transactions for 616.9 million soums ($58,140) were made with ordinary shares of Uzmetkombinat on the stock exchange.
It is reported that the rapid growth of interest in shares occurred after the company disclosed data on more than threefold increase in net profit for the first quarter. The company's net revenue, compared to the same period in 2020, increased by almost one and a half times from 1.07 to 1.6 trillion soums ($from 100 billion to $150 billion).
Net profit amounted to 232.02 billion soums ($21.9 million), which is 3.25 times more than in the first three months of last year.
Also, according to the information on the official website of the enterprise, Uzmetkombinat is currently implementing the project on construction of a casting and rolling complex.
It is noted that the additional capacity will make it possible to produce over one million tons per year of hot-rolled sheet products on top of the current production, of which over 100,000 tons are intended for export and 900,000 tons will go to the needs of the economy, which should reduce the need for imports.
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