Azersun Holding increased its sales by 74%

LLC Azersun Holding, the largest agro-industrial group in Azerbaijan, carried out in 2013 sales totaling 358.5 million manat, which is 74% (153 million manat) more than in the previous year. At the same time, according to the consolidated financial statements, the aggregate net income (28.5 million manat) of the participating companies in the holding rose by only 3 million manat.

The consolidated profit of the Group sales amounted to 81.4 million manat, which is 10% (7.5 million manat) more than in 2012. After deducting operating (5.4 million manat), commercial (37.8 million manat), administrative (4.7 million manat) and so forth expenses, the income before income taxes amounted to 35.2 million manat. The holding paid to the state budget only tax profits of 6.6 million manat. In 2012, this figure was around 4 million manat.

Last year, the total assets of LLC Azersun Holding existing since 1991 declined by about 7% to 348.8 million manat. With authorized capital of 72.5 million manat, the group at the beginning of January this year had retained earnings in the amount of 80 million manat.

According to the published report of the holding company, it includes 12 companies specialized in the food industry (Azerbaycan Duz Istehsalat Birliyi, Baki Qida ve Yag Fabriki, Kurdemir Sud Emali Zavodu, Sun Tea Chay Fabriki, Lankaran Konserv Zavodu, Qazakh Konserv Zavodu, Qafqaz Konserv Zavodu), as well as agriculture, trade and construction. The holding has also related companies operating in the financial sector, packaging and paper industry and other sectors of the real economy. --08B--