Web Desk February 15, 2021

Milk-Pro LLC, the first private milk processing company in Azerbaijan (1996), completed 2018-2019 with a loss, as a result of which its capital became negative. According to the financial report audited in December 2020, the turnover of the dairy company, which also produces vegetable and fruit juices, increased approximately three times in 2019 and amounted to 18.8 million manats. Net loss, taking into account the cost, amounted to 210.3 thousand manats. Administrative expenses of Milk-Pro LLC (158.8 thousand manats) in 2019 increased by 60%. Thus, the total amount of the company’s loss in 2019 exceeded 360 thousand manats. As part of the Milk-Pro company, there are 3 milk processing enterprises and 2 fruit processing plants in Baku and Goychay region. It also has a chain of SEVIMLI DAD branded stores. At the beginning of 2020, the company had long-term credit debts in the amount of over 14 million manats. Since 2007, Azerbaijan Investment Company OJSC has a 25% shareholding in Milk-Pro LLC. Another 10% in the capital of the dairy company belongs to the European Bank for Reconstruction and Development . The company is headed by

 

Source: Turan News Agency

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