The company said that it increased granulated sugar production by 4% year-on-year to 286,055 tonnes in 2010. In the reporting period, the company realized 295,659 tonnes of granulated sugar.

According to audited balance of the enterprise, net revenue of the company made up 478.77 billion soums (1.62 times up) and gross income from sales – 89.1 billion soums (2.1 times up).

Assets of Khorezm Shakar rose by 0.4% year-on-year to 154.35 billion soums, while turnover assets fell by 2.4% to 124.38 billion soums.

In line with the balance, the charter capital of the venture makes up 14.2 billion soums and it comprises of 1.42 million ordinary shares with par value of 10,000 soums each.

Shareholders of the company adopted decision to direct 33.776 billion soums to payment of dividends. At the same time, the company will direct 30.398 billion soums to payment of dividends and 3.378 billion soums to payment of taxes on dividends.

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

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.

In March 2006, Austria’s SEID Нandelsgesellshaft mbH acquired 99.43% state shares of Khorazm Shakar OJSC for US$17.6 million. Other 0.57% share belongs to individuals and management of enterprise.