Kazakhstan Kagazy narrows net loss 76% in 2010
ALMATY. April 4 (Interfax) - Kazakh paper recyling and development group Kazakhstan Kagazy posted a 2010 net loss of 8.38 billion tenge compared with a net loss of 35.547 billion tenge in 2009, according to the company's consolidated audited financial reports.
Revenue grew 8.7% to 10.223 billion tenge, and gross profit rose 6% to 3.378 billion tenge (145.68 tenge/$1 on April 4).
The assets of Kazakhstan Kagazy shrank 15% last year to 52.417 billion tenge, liabilities decresaed 2.4% to 40.567 billion tenge, equity capital decreased 41% to 11.851 billion tenge and charter capital was unchanged at 6.557 billion tenge.
Kazakhstan Kagazy includes Kagazy Recycling Ltd, Kazakhstan's largest producer of recycled paper and cardboard; and Peak Ltd., an industrial real estate development company.
Kazakhstan Kagazy PLC, which is incorporated in the Isle of Man, is the parent company of Kazakhstan Kagazy.
