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Economy 25/06/2012 Andijancable’s net income makes up 12.093bn soums in 2011
Andijancable’s net income makes up 12.093bn soums in 2011
Tashkent, Uzbekistan (UzDaily.com) -- Andijancable, a Russian-Uzbek joint venture in form of open joint stock company, received net income for 12.093 billion soums in 2011 compared to 8.3 billion soums in 2010.

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 3% surplus.

The company produced goods for 155.1 billion soums against 151 billion soums in 2011. The growth rate made up 12.9% compared to 2010. The company also produced consumer goods for 2.2 billion soums in 2011, which rose by 20% year-on-year.

In 2011, Andijancable produced 93,341.3 km of cables and isolated wires. The enterprise produced 12,424.8 km of communication cables.

The venture produced 157,000 square meters of metallic laths, and 885.2 tonnes of bare wires, as well as 45,898 km of LAN-cables.

The company said that it launched production of self-carrying cables and production of socks under CALZARI brand. Besides, the enterprise purchased second line on production of copper rod.

The company said that the assets rose from 73.464 billion soums in 2010 to 82.214 billion soums in 2011. The charter capital made up 1.162 billion soums. Undistributed income rose from 16.557 billion soums in 2010 to 28.65 billion soums.

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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