Net profit of large logistics center in Azerbaijan grows by almost 48%

Absheron Logistics Center LLC completed 2022 with a net profit of 2.935 million manats ($1.726 million; 47.6% more year-on-year), Report informs.

Last year, the company's revenue from the sales and provision of services amounted to 32.721 million manats ($19.248 million; 35.4% more YoY).

As of January 1, 2023, the company's assets amounted to 25.345 million manats ($14.909 million), which is 0.7% more than a year earlier. During the reporting period, the center's liabilities decreased by 10.3% - to 19.144 million manats ($11.261 million), and the balance sheet capital increased by 62.6% - to 6.201 million manats ($3.647 million).

The Absheron Logistics Center began its activities on August 13, 2018. The center is located in Lokbatan, the Garadagh district of Baku.