JSC Agroleasing Suffers Minimum Loss

The state-run JSC Agroleasing completed the fiscal year with a loss again. This time, the company's loss amounted to 639.7 thousand manats.

In 2015, the operating income of Agroleasing amounted to 113.1 million manats, decreasing by 12.5% ​​compared to 2014. Taking into account the costs, the operating profit exceeded 10.8 million manats, which is 3.6 million manats more than in the previous year. However, due to the increase in administrative expenses by 2.4 million manats, Agroleasing suffered a loss.

At the beginning of 2016 the assets of Agroleasing were estimated at 615.2 million manats, increasing by 16.8%. Of these, 342 million AZN accounted for long-term debts in the leasing of agricultural machinery, fertilizers and livestock.

In 2015, the authorized capital increased by 40 million AZN and reached 234.5 million AZN.

The company on the basis of public funding implements leasing of agricultural equipment, fertilizers and livestock and carries out orders of farmers planting crops and harvesting.

It should be noted that during the activities since 2005, in 2014 JSC Agroleasing had first net profit in the amount of 829.5 thousand AZN.

As of January 1, 2016 the total amount of its loss was 11.1 million AZN. -----08D