The total assets of Synergy Group increased at 60.4% during the past year, amounting to 136 262 480 manat.
As stated in the consolidated financial statement of the Group on its website during the reporting period, the total investment amounted to 17,242,920 manat (an increase of 6.3 times), receivables - 13,943,310 manat (+ 19.8%), prepayments - 11,336 160 manat (an increase of 6 times).
Obligations by the top of 2014 were equal to 3,679,650 manat (+ 60.2%), including payables - 3,002,410 manat (an increase of a factor of 2).
The Group's equity in the reporting period was 132 582 840 manat (+ 60,4%), and the accumulated losses were 33,141,470 manat (an increase of 2.1 times).
Total losses in the Group last year amounted to 20 million manat, increasing twofold.
JSC Synergy Group was founded in 2010. It invests in a number of strategic areas of the industry, managing a portfolio of 24 companies in various fields. The Group's share capital is 15 million manat. --17D-
Economics
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Azerbaijan President Ilham Aliyev has signed a decree to strengthen social protection for pensioners by implementing pension indexation, effective from January 1, 2025.
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The Italian government has extended the deadline for applications in the international tender for the sale of several strategic assets until February 14, confirming that a bidder from Azerbaijan remains among the frontrunners.
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An investigation led by Ghalib Toghrul, Chairman of the Board of the Center for Economic Research, has highlighted budgetary expenditures in the Azerbaijani districts of Aghdam, Fuzuli, and Khojavend, focusing on civil service projects linked to the reconstruction of territories liberated from Armenian occupation.
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On February 4, Azerbaijani Economy Minister Mikayil Jabbarov met with a delegation of the International Monetary Fund (IMF) led by Anna Bordeaux, head of the IMF mission in Azerbaijan, to discuss economic cooperation, financial sector issues and structural reforms, the ministry said.
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