The company said that Khorezm Shakar JV OJSC realized 94,177 tonnes of products in the reporting period.

Net income of the company grew from 26.04 billion soums in the first half of 2011 to 30.69 billion soums in the first six months of 2012.

Net sales made up 381.707 billion soums in the reporting period against 380.79 billion soums in the same period of 2011.

Prime cost of produced goods exceeded 288.285 billion soums in January-June 2012 compared to 318.318 billion soums in the same period of 2011.

The assets of the company decreased from 155.285 billion soums in the beginning of 2012 to 134.085 billion soums in the first half of 2012.

Long-term assets increased from 37.455 billion soums to 39.671 billion soums in the reporting period, while turnover assets fell from 117.83 billion soums to 94.414 billion soums.

Own capital of Khorazm Shakar grew from 36.16 billion soums in the beginning of 2012 to 44.39 billion soums in the first half of this year.

The charter capital of the venture made up 14.2 billion soums, and comprises of 1.42 million ordinary shares with par value 10,000 soums each.

Liabilities of the enterprise decreased from 119.124 billion soums in the beginning of 2012 to 89.695 billion soums in the first half of 2012.

Khorezm Shakar JV OJSC is largest sugar producer in Uzbekistan. Khorezm Sugar Plant was commissioned in 1998. The cost of the plant is US$83.25 million. Preliminary plant was designed for processing sugar-beet, which was planned to plant in Uzbekistan. The capacity of the plant was 3,000 tonnes of sugar-beet a day. But low crop pushed to conserve the plant.

Shakar Investment, an Uzbek-Austrian-US joint venture, carried out project on transfer of the capacity to processing of cane sugar with the cost of US$2 million in 2002. Currently, the plant can process 1,000 tonnes of cane sugar a day.

Shareholders of the company are Motril Investments (Panama, 69.43%), KITO Investments (Singapore, 20%), SEID Handels GmbH (Austria, 10%) and employees (0.57%).