Tashkent, Uzbekistan (UzDaily.com) -- The net profit of Navoi Mining and Metallurgy Company (NGMK) under IFRS for 2023 made up approximately US$1.5 billion, which is 46.6% higher than the previous year, according to the company’s report.

The company’s revenue in 2023 exceeded US$5.7 billion, marking a 12% increase compared to 2022.

By the end of 2023, the company’s assets totaled US$8.6 billion, a decrease of 5.3% compared to the previous year.

NGMK’s equity for 2023 decreased by 5%, amounting to US$4.7 billion.

It is worth noting that in 2022, the company paid dividends to the state totaling nearly 15.4 trillion soums, which constituted 100% of the profit received in 2022.

S&P Global Ratings assigned NGMK long-term issuer credit ratings in foreign and national currency at ‘BB-’.