The statement said that net income of the company reached 26.05 billion soums in the first half of 2011 compared to 12.12 billion soums in January-June 2010.

Net revenue from sugar sales made up 380.79 billion soums in the reporting period against 221.29 billion soums in the same period of 2010. The prime cost exceeded 318.32 billion soums in the first half of 2011 compared to 177.59 billion soums in January June 2010.

The assets of the company rose from 154.477 billion soums in January-June 2010 to 170.656 billion soums in the same period of 2011. Long-term assets jumped from 30.1 billion soums to 31.47 billion soums in the reporting period, turnover assets – from 124.4 billion soums to 139.2 billion soums.

Own capital of the company slipped from 58.87 billion soums in the first half of 2010 to 42.58 billion soums in January-June 2011.

In line with the balance, the charter capital of the venture makes up 14.2 billion soums and it comprises of 1.42 million ordinary shares with par value of 10,000 soums each.

Shareholders of the company adopted decision to direct 17.62 billion soums to payment of dividends (15.858 billion soums after tax) for the second quarter of 2011.

Shareholders of the company are Motril Investments (Panama, 69.43%), KITO Investments (Singapore, 20%), SEID Handels GmbH (Austria, 10%) and employees – 0.57%.

Khorezm Shakar JV OJSC is largest sugar producer in Uzbekistan. Khorezm Sugar Plant was commissioned in 1998. The cost of the plant is US$83.25 million. Preliminary plant was designed for processing sugar-beet, which was planned to plant in Uzbekistan. The capacity of the plant was 3,000 tonnes of sugar-beet a day. But low crop pushed to conserve the plant.

Shakar Investment, an Uzbek-Austrian-US joint venture, carried out project on transfer of the capacity to processing of cane sugar with the cost of US$2 million in 2002. Currently, the plant can process 1,000 tonnes of cane sugar a day.