Sunday, 16, June, 2024

Almalyk Mining and Metallurgical Plant (AMMC) has shown strong financial performance in Q1 of the year, with its net revenu reaching 1.5 trillion soums, or $118 mln, marking a 4.7% increase compared to the same period last year.

AMMC had a substantial surge in revenue from other activities, skyrocketing from UZS 70.9 bln ($5.6 mln) to UZS 713.1 bln ($56 mln) in Q1. This remarkable rise, almost tenfold, underscores the company's diversified revenue streams and effective operational strategies.

The company's long-term bank loans experienced a notable hike, rising from UZS 12.3 trillion ($968 mn) to 1UZS 5.1 trillion ($1.2 bln), representing a solid 22.9% increase year-on-year. Additionally, long-term loans more than doubled, climbing from UZS 3.0 trillion ($236 mn) to UZS 6.3 trillion ($496 mn), reflecting a remarkable 110.0% surge compared to the previous year.

In line with the president’s April 19 decree, AMMC is set to undergo significant strategic initiatives. Over the next two years (2024-2025), the company will place 2% of its shares onto the stock exchange. This strategic move is expected to enhance market participation, promote transparency, and unlock new avenues for growth.

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