Azerbaijan Caspian Shipping Company ends 2018 on AZN 52M in profit

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As of January 1, 2019, CJSCAzerbaijan Caspian Shipping Company’s assets stood at AZN 1,196,042,000, up 16.1% from previous year.

The CJSC says the long-term assets rose by 16.1% to AZN 890.89 million, current assets increased by 16.2% to AZN 305.152 million, liabilities grew by 92.3% to AZN 205.054 million, including long-term liabilities went up 2.2-fold to AZN 69.484 million, current liabilities ascended by 81.7% to AZN 135.571 million, total capital surged by 7.3% to AZN 990.988 million, authorized capital remained unchanged at AZN 440.051 million.

Revenues dropped by 4.7% to AZN 452.171 million, base price of sales soared 11% to AZN 294.242 million, general and administrative expenses increased by 0.65% to AZN 52.461 million, social expenditures grew by 2.4-fold to AZN 12.132 million, other operating incomes fell by 25.1% to AZN 33.253 million, other operating expenditures slipped by 7.7% to AZN 48.114 million, loss from exchange difference declined by 82.2% to AZN 692,000, financial costs went up 35.7% to AZN 1.914 million, profit tax dropped by 38.9% to AZN 23.207 million. Consequently, the CJSC ended 2018 on AZN 52.462 million in net profit, down 47.6% by contrast to a year earlier.