Azerbaijani construction materials company achieves 85 million AZN in revenue & 13 million AZN in net profit
In Azerbaijan, the construction products manufacturer Marmar Construction OJSC achieved a net profit of 12.75 million manats in 2023, Azernews reports.
In comparison, the company's net profit in 2022 was 2.6 million manats, meaning it earned five times more in the last year.
According to the company's audit report, Marmar Construction earned 84.99 million manats in revenue last year, more than 2.5 times the 33.31 million manats reported in 2022.
The cost of the company's sales was 61.73 million manats, resulting in a total profit of 23.26 million manats.
Following last year's net profit, the undistributed profit on the company's balance sheet increased to 12.65 million manats. The company has a charter capital of 1.5 million manats and net assets amounting to 14.15 million manats.
Last year, the company distributed 1 million manats as dividends to its shareholders.
It should be noted that Marmar Construction OJSC was founded as an LLC in 2017, became a closed joint-stock company in 2023, and transitioned to an open joint-stock company in 2024. Hurzat Akhundova Adil gizi owns 100% of the company's 1.5 million manats worth of shares. As of the end of 2023, the company employed 375 people.
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