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Finance 08/07/2011 Net income of Pakhta Lizing hits 53.93m soums in 2010
Net income of Pakhta Lizing hits 53.93m soums in 2010
Tashkent, Uzbekistan (UzDaily.com) -- Pakhta Lizing closed joint stock company posted net income at the size of 53.93 million soums in 2010 against net loss for 229.456 million soums in 2009, the company’s annual report said.

According to Pakhta Lizing business plan for 2010, it was planning to receive net income at the size of 1.259 billion soums, but it was fulfilled plan only for 4.28%.

The company said that one of main reasons for low net income is received losses from signed agreements with foreign producers. In particular, the company received loss from contracts with Nogin NZTA (Russia) and on supply of mini-technologies and tools from China.

According to the report, income from sales of commission goods in 2010 made up the sum of commission reward at the size of 2.035 million soums. In the reporting period, the company realized agriculture equipment, construction materials, spare parts and mini-technologies for over 2.315 billion soums.

Net revenue decreased from 1.114 billion soums in 2009 to 898.195 million soums in 2010. Expenses of the period fell from 1.309 billion soums to 548.531 million soums in the reporting period.

Income from financial activity decreased from 486.457 million soums in 2009 to 227.106 million soums in 2010. Expenses from financial activity contrary grew from 271.794 million soums in 2009 to 465.824 million soums in 2010.

As of 1 January 2011, aggregate assets of the company made up 6.224 billion soums against 7.477 billion soums as of 1 January 2010.

The charter capital made up 2 billion soums at the end of 2010, or grew by 400 million soums in the same period of previous year.

Undistributed income of Pakhta Lizing made up 817.117 million soums and reserve fund was formed at 1.168 billion soums.

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