BAKU, Azerbaijan, May 30. Assets of Azerbaijan Caspian Shipping Company CJSC (ASCO) amounted to $1.74 billion ($1.02 billion) as of early 2024, up 30.6 percent from early 2023, Trend reports.
"In 2023, the liabilities of the CJSC increased by 89.9 percent to 307.1 million manat ($180.6 million), and the balance sheet capital increased by 22.4 percent to 1.4 billion manat ($820 million)," the CJSC's financial statement indicated.
ASCO completed 2023 with a net profit of 43.68 million manat ($25.7 million), which is 33.2 percent less than in 2022.
Main operating incomes of ASCO last year amounted to 524.19 million manat, or $308.3 million (down eight percent from 2022), and the cost of sales of the company equaled 375 million manat, or $220.6 million (up 1.5 percent).
Loan losses at the beginning of 2024 amounted to 1.05 million manat, or $620,000 (87.3 less than a year earlier).
Participation in joint ventures brought ASCO an income of 6.76 million manat ($3.98 million).
In 2023, the CJSC paid an income tax of 12.68 million manat ($7.46 million).
