The Almalyk Mining and Metallurgical Combine (AMMC) has demonstrated strong financial performance in the first quarter of the year, with its net profit reaching UZS 1.5 trillion ($118 mn), marking a significant 4.7% increase compared to the same period last year, as it was dislosed by KAP DEPO.
AMMC witnessed a substantial surge in revenue from other core activities, skyrocketing from UZS 70.9 bn ($5.6 mn) to UZS 713.1 bn ($56 mn) during the first quarter. This remarkable increase, almost tenfold, underscores the company's diversified revenue streams and effective operational strategies.
The company's long-term bank loans experienced a notable uptick, rising from UZS 12.3 trillion ($968 mn) to 1UZS 5.1 trillion ($1.2 bn), representing a solid 22.9% increase year-on-year. Additionally, long-term loans more than doubled, climbing from UZS 3.0 trillion ($236 mn) to UZS 6.3 trillion ($496 mn), reflecting a remarkable 110.0% surge compared to the previous year.
In line with the presidential decree titled on April 19, AMMC is poised to undergo significant strategic initiatives. Over the next two years (2024-2025), the company plans to introduce 2% of its shares to the stock exchange. This strategic move is expected to enhance market participation, promote transparency, and unlock new avenues for growth.
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