The statement said that net income of the company reached 8.426 billion soums in the first quarter of 2011.

Net revenue from sugar sales made up 162.253 billion soums in the reporting period. The prime cost exceeded 141.517 billion soums.

Gross income of Khorezm Shakar made up 20.735 billion soums and income from main activities – 10.715 billion soums.

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 8.426 billion soums to payment of dividends (7.583 billion soums after tax). 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.

In March 2006, Austria’s SEID Нandelsgesellshaft mbH acquired 99.43% state shares of Khorazm Shakar OJSC for US$17.6 million. Other 0.57% share belongs to individuals and management of enterprise.