Ahangarancement sales rise in 1Q11

Ahangarancement sales rise in 1Q11
Published: 02 May 2011

Eurocement subsidiary, Ahangarancement OJSC (Uzbekistan), recorded a net income of UZS15.186bn in the first quarter of 2011 against UZS14.623bn in the same period of 2010, Uzbekistan Daily reported.

Net revenue from sales rose from UZS40.67bn in the first quarter of 2010 to 44.552bn in the same period of 2011. Gross income rose to UZS24.393bn versus UZS22.948bn in the reporting period. Long-term assets of the company grew from UZS223.642bn in the beginning of 2011 to UZS251.271bn by the end of the quarter. Current liabilities amounted to UZS12.17bn at the end of the first quarter of 2011 compared to UZS7.66bn at the beginning of 2011.

Ahangarancement OJSC, the second largest cement plant in Uzbekistan, has a market share of 27.9%. The company exports cement to Kazakhstan, Kyrgyz Republic and Turkmenistan.