12:05 - 19.09.2023
September 19, Fineko/abc.az. Agrarian Innovations & Supply OJSC, known as Gübre.az in Azerbaijan, in the 1st half of 2023 suffered losses for more than AZN 2.224 million, ABC.AZ informs with reference to company's semi-annual financial statements.
The report says that company's revenues in the 1st half of the year from the main operating direction totaled about AZN 23.914 million. At that, in 2022, the company received revenue for AZN 34.366 million. Thus, if sales continue at the same pace, company's overall revenues may exceed AZN 40 million by the end of the year.
However, other "worries" of the company in connection with revenues prevented it from completing the half-year with profit. The cost of sales exceeded AZN 21.9 million. Compared with 127% in 2022, this number grew to 134% in the 1st half of this year. This means that this year the company has incurred more costs for the cost of agricultural products.
On the other hand, company's administrative expenses in the 1st half of 2023 increased to AZN 3.405 million. If for 2022 this figure reached AZN 4.67 million, then, probably, these expenses of the company significantly exceed the figures for the 1st half of the previous year.
Thus, the retained earnings on company's capital balance sheet decreased to AZN 3.304 million.
The company is currently an issuer of shares in the capital market. On February 23, 2023, it issued shares worth 100,000 manats on the Baku Stock Exchange, which were bought by a certain Afag Medzhidova. She controls 100% of the shares.
