The OJSC "SABA" (former "Devechi Broyler"), the largest producer of broiler production in Azerbaijan for the first time suffered a loss. According to the financial report of the company, sales in 2014 rose by 1.5 million manat, and exceeded 40.4 million manats. The production and other costs increased by 6,340.400 manat a year, and amounted to 42.3 million manat last year. As a result, the annual loss of "SABA" amounted to 1.943.900 manat. In 2014, the company increased sales of broiler and other products to 500.4 tons, and brought to 14.300 tons.
With authorized capital of 4.8 million manats, net assets of the company amount to 31.7 million manat. However, the net assets for the year decreased by 1.3 million manat.
Bank loans of the JSC "SABA" at the end of 2014 amounted more than 6.8 million manat.
In 2013, the face value per share AZN 2 has been credited with the dividend of 2.34 manat. The capital stock of the company totaled 16 million manat retained earnings.
One of the shareholders of JSC "SABA" is a state of "Azerbaijan Investment Company" (10%.)
In 2014 it "Devechi Broyler" and its several subsidiaries were reorganized, "SABA" was created. 08B
Economics
-
On July 26, the Ministry of Economy hosted a meeting with entrepreneurs from the non-oil industry to explore ways to stimulate local production and enhance export potential.
-
Azerbaijani internet service providers Aztelekom and Baktelekom will introduce substantial changes to their pricing structure starting August 15, the companies announced today. Under the new tariffs, the minimum internet speed will rise to 100 Mbit/s, with the cost per Mbit/s decreasing from 0.45 AZN to 0.25 AZN. As a result, monthly charges will be set at 25 AZN for 100 Mbit/s, 30 AZN for 150 Mbit/s, and 36 AZN for 250 Mbit/s.
-
Independent experts suggest that Azerbaijan may be on the verge of another devaluation of its currency, the manat, due to a shrinking trade and payment surplus. The anticipated economic adjustments come amidst a decline in foreign currency inflows and reduced oil production.
-
Azerbaijan’s Foreign Minister Jeyhun Bayramov met today with Ahmed Moallim Figi, the Minister of Foreign Affairs and International Cooperation of Somalia, at the Azerbaijani Foreign Ministry. This meeting followed a discussion held the previous day between Figi and Azerbaijan’s Economy Minister Mikail Jabbarov.
Leave a review