As reported earlier, net income of Almalyk Mining and Metallurgy Combine grew by 47.62% from 87.329 billion soums in 2010 to 128.921 billion soums in 2011.

At the same time, in line with the decision of shareholders, AGMK will spend 119.918 billion soums out of 36.706 billion soums to finance capital construction and 6.788 billion soums to finance exploration works. The company also issued 10 billion soums to purchase shares of Asaka Bank.

Shareholders of AGMK also directed 562.389 million soums to payment of dividends on preferred shares (250 soums per share) and 10.313 billion soums on ordinary shares (117.92 soums per share) for 2011.

AGMK will direct 6.446 billion soums to reserve fund and 31.287 billion soums to repayment of main part of loans. The company issued 4.4 billion soums to repayment of payments to the Fund for Reconstruction and Development of Uzbekistan and 11.283 billion soums to repayment of debts.

The combine will also allocate 9.365 billion soums to cover expenses on arbitrage related with activities of Uzmetalltechnology JV and 18.212 billion soums to sponsorship activities.

AGMK allocated 345.26 million soums to remuneration of Supervisory Board and Revision Commission.