Net profit of Azerbaijani cement producer declines by 12%

Norm OJSC, owned by Neqsol Holding LLC, ended last year with a net profit of 26.614 million manats, 11.5% less than in 2019, Report informs citing the company's financial statements.

Last year, Norm's pre-tax profit amounted to A34.776 million manats (10.75% less), and payments on profit tax - to 8.162 million manats (8.1% less).

As of January 1, 2021, the assets stood at 269.131 million manats, down 6.8% from a year ago. During the reporting period, the company's liabilities decreased by 37.8%, to 48.904 million manats, and the net worth increased by 4.8%, to 220.227 million manats.