State Agency for Housing Construction LLC posts 49% growth in net profit

As of January 1, 2019, the assets of the State Agency for Housing Construction LLC under the State Agency for Housing Construction stood at AZN 214.676 million, up 91.6% from the previous year, Report informs.

Liabilities rose 13.5-fold to AZN 432,000, total capital surged by 91.3% to AZN 214.244 million.

Revenues from sale of reserves amounted to AZN 13.829 million, base price of reserves to AZN 12.9 million, operating incomes rose 3.2-fold to AZN 117,000, financial incomes grew by 11.8% to AZN 5.946 million, general and administrative expenditures went up 15.9% to AZN 4.19 million, profit tax soared 2.3-fold to AZN 574,000. Consequently, the LLC ended 2018 on AZN 2.229 million in net profit, up 49.3% by contrast to a year earlier.

The LLC was established on April 11, 2019. Authorized capital is AZN 10 million.