ASK made a profit


September 16, Fineko/ Azerbaijan Industrial Corporation (ASK) completed 2021 with net profit of AZN 44.099 million. While in 2020, the net loss amounted to AZN 3.49 million.

ABC.AZ reports that sales revenues last year amounted to AZN 429.156 million (54.4% more than a year earlier), financial expenses AZN 2.3 million (22.1% less), cost of sales AZN 330.9 million (29.3% more), general and administrative expenses AZN 16.98 million (9.7% more), expenses for sale and distribution AZN 17.06 million (2.5-fold more), expenses for providing written-off materials AZN 133,000 (58.3% more), probable credit loss on accounts receivable and other funds AZN 3.2 million (20.8-fold more), financial expenses AZN 2.3 million (22.1% less), other expenses AZN 620,000 (income a year earlier), and income tax payments amounted to AZN 13.828 million (12.4-fold more).

ASK’s assets as of 1 January 2022 reached AZN 1.507 bn (3.1% more than a year earlier). Corporation's liabilities decreased by 12.3% to AZN 89.45 million, the balance sheet capital increased by 4.3% to AZN 1.417 bn for the reported term.