First company in Uzbekistan to hold SPO reports better performance
First company in Uzbekistan to hold SPO reports better performance
Kokand Mechanical Plant (KMZ) has improved its financial performance in 2021, according to the company's financial statements. KMZ was the first company in the country to conduct SPO at the end of 2018. Following the operation, it raised over $278mn, with more than 2,800 people becoming shareholders of the plant.
During the 1Q of 2021, the plant received a net profit of $50,000. It ended the same period last year with a net loss $180.4mn.
The revenue in the 1Q soared from $142.4mn to $446.4mn, with income from core activities amounting to $133mn.
Kokand Mechanical Plant was established in 1933 on the basis of the"Repair and mechanical workshop". It mainly provides services in the oil and gas industry.
Within the country’s massive privatisation program, a state-owned stake of 64.08% will soon go under the hammer.
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