Baku 22° C
SOFAZ shifts from loss to profit from Moscow-based property
Business
- 09 July, 2020
- 12:33
Add Report.az to preferred Google sources
Stay up to date with the top news!
SOFAZ’s rental income from “Tverskaya 16” JSC in Moscow amounted to AZN 8.3 million, profit made up AZN 4.6 million in 2019, Report informs, citing the Fund’s consolidated financial statement.
These amounts were directed to pretax net profit/loss.
The Fund earned AZN 8.76 million income from this investment in 2018, while loss amounted to AZN 815,000.
The net profit includes AZN 1.14 million growth on fair value (a decline of AZN 4.03 million in 2018).
On December 21, the SOFAZ acquired 100% of stakes in Tverskaya 16 JSC.
Author
Latest News
21:31
29 foreign ministers accuse Iran of hostile hybrid activities
Other countries
20:53
Photo
Azerbaijan's new ambassador presents credentials to Pakistan's president
Foreign policy
20:34
Škoda Group plans manufacturing and maintenance facility in Baku
Industry
20:22
Uzbekistan names Botir Qudratkhodjayev new defense minister
Region
20:18
Photo
Azerbaijan Army holds graduation ceremony for Officer Development Cour
Military
20:13
Ukrainian ambassador: More than 700 children received support in Azerbaijan
Foreign policy
19:55
Azerbaijani chargé d'affaires meets Canadian MP Gurbux Saini
Foreign policy
19:39
Ukrainian children to spend 10 days at Gabala rehabilitation center
Foreign policy
19:34
Photo
Azerbaijan, Iran discuss cooperation on emergency management
Domestic policy