Kazakhstan's KazAgro earns net profit of 19.8 bln tenge in Jan-Sept
ALMATY. Dec 2 (Interfax) - Kazakhstan's KazAgro earned 19.752 billion tenge (341.44 / $1) in net profit in Jan-Sept 2016 against a 61,904 net loss in the same period last year, according to IFRS financial reports.
Interest income in this period increased by 27.9% to 66.818 billion tenge and revenues rose by 20.2% to 28.785 billion tenge. Profit before tax in January-September this year amounted to 23.318 billion tenge compared to a loss before tax of 78.756 billion tenge in the same period of 2015.
The company's assets since the beginning of this year increased by 12.6% to 1.245 trillion tenge, liabilities rose by 11.4% to 911.198 billion tenge, equity capital increased 11.5% to 333.868 billion tenge and authorized capital was 8.7% up to 312.817 billion tenge.
National Managing Holding KazAgro JSC, established in December 2006, is in charge of the government's agricultural policy. The company manages the assets of its subsidiaries: National Company Food Contract Corporation JSC, KazAgroProduct JSC, KazAgroFinance JSC, Agrarian Credit Corporation JSC, Fund for Financial Support of Agricultural Sector JSC, KazAgroGarant JSC and KazAgroMarketing JSC.
