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Economy 02/07/2012 UzBAT A.O. receives net income for 158.76bn soums in 2011
UzBAT A.O. receives net income for 158.76bn soums in 2011
Tashkent, Uzbekistan (UzDaily.com) -- British American Tobacco Uzbekistan, an Uzbek-British joint venture in form of open joint stock company, received net income for 158.76 billion soums in 2011 against 104.487 billion soums in 2010. The growth rate made up 51.94%.

According to the annual report, net revenue rose by 18.95% to 467.098 billion soums in the reporting period. Prime cost rose from 168.899 billion soums in 2010 to 173.031 billion soums in 2011 (+2.44%).

Expanses of the venture made up 90.739 billion soums in 2011 against 92.99 billion soums in 2010 (-2.43%).

The company said that total volume of cigarettes market decreased by 15% in 2011. This resulted in decrease of sales of cigarettes in internal market (5% less than business plan) mainly in lower price segment.

Sales of cigarettes of Kent family grew by 75% compared to planned volume due to effective sales campaigns and success of Kent Micro HD, contribution of which to growth of sales in 2012 made up 10%.

The sales volume of Pall Mall decreased (-8%), but the market situation with Pall Mall is in expected volume.

Growth of competition impacted to sales of Viceroy and Lucky Strike, which was less by 48% compared to the planned sales volume for 2011.

In 2011, Samarkand cigarette plant produced 12 billion units of cigarettes as exports decreased. At the same time, the plant conducted significant modernization work and launched strategically important engineering projects. The plant launched pilot project on quality control with use of advanced technologies and methods.

As of the end of December 2011 the actual volume of tobacco leaves purchase volume made up over 8,000 tonnes. The exports were significantly lower compared to business-plan due to introduction of import quotas in neighbouring states. At the same time, exports of tobacco leaves were 7% higher than compared to business plan.

In 2011, the venture allocated 670 million soums to charity activities within the corporate social investments.

According to the venture, the assets rose by 17.4% from 568.334 billion soums in 2010 to 798.842 billion soums in 2011. The charter capital made up 5.669 billion soums in 2011.

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