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Economy 14/06/2011 Andijancable posts net income for 8.3bn soums in 2010
Andijancable posts net income for 8.3bn soums in 2010
Tashkent, Uzbekistan (UzDaily.com) -- Andijancable, a Russian-Uzbek joint venture in form of open joint stock company, received net income for 8.3 billion soums in 2010 compared to 3.576 billion soums in 2009.

The annual report of the company said that despite some difficulties in purchase of main materials, the plan for production and realization of goods were fulfilled with 2.3% surplus.

The company produced goods for 110.247 billion soums in 2010 at the plan of 107.736 billion soums. The growth rate compared to 2009 made up 54%. The company also produced consumer goods for 1.522 billion soums, which is 22% more year-on-year.

In 2010, Andijancable produced 111,241.5 km of cables and isolated wires. The enterprise produced 7,647.9 km of communication cables.

The venture produced 145,800 square meters of metallic laths, and 1,210.5 tonnes of bare wires, as well as 94,268.7 km of LAN-cables.

According to the company, the assets grew from 48.405 billion soums in 2009 to 73.464 billion soums in 2010. The charter capital made up 1.162 billion soums. Undistributed income rose from 8.326 billion soums in 2009 to 16.557 billion soums in 2010.

Construction of Andijan Cable Plant started in 1981. The first line was commissioned in 1985. Russian Farial acquired 51% stake in the enterprises for US$1.151 million in 2001. Besides, the Russian company received 19% shares to assets management. In 2001, Andijancable OJSC was reorganized into enterprise with foreign investments.

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