Azerbaijan State Advertising Agency posts decline in profit

15.08.2022,10:53


August 15, Fineko/abc.az. The State Advertising Agency of Azerbaijan (ADRA) completed 2021 with 933,000 manats in profit, a drop of 30.7% from 2020, the agency said in a statement.

ABC.AZ reports with reference to Report that last year, ADRA's profit amounted to 6.43 million manats (3.5% more than in 2020), including 5.96 million manats from advertising fees (1.2% more), and 470,000 manats (45.5% more) from other income.

During the reporting period, the Agency's expenses amounted to 5.497 million manats (+ 13%), including 3.778 million manats  (+ 20.2%) in personnel costs, 470,000 manats (- 15.3 %) in depreciation costs on fixed assets and intangible assets, 441,000 manats (-2.2%) in rental costs, 100,000 manats (+ 17.6%) in repair and maintenance expenses,  36,000 manats (+ 33.3%) in travel expenses, 670,000 manats (+ 27.9%) in other expenses.

As of January 1 this year, the assets amounted to 7.694 million manats, which is 22% more than the same period last year. During the reporting period, the Agency's liabilities increased 31.3 times, up to 469,000 manats, while the balance sheet capital increased by 14.8%, up to 7.225 million manats.