Uzbek cement producer Kizilkumcement’s 2023 net profit grows 57%

By bne IntelliNews March 2, 2024

Uzbek cement producer Kizilkumcement has posted a 2023 net profit of Uzbekistani som (UZS) 469.6 bn ($39.6mn), marking a 56.9% y/y gain .

Gross profit at the company 68%-owned by United Cement Group was UZS 809.8bn versus UZS 638.1bn in 2022.

Long-term bank loans decreased by 70.9% y/y to UZS 45.9 bn.

The Navoiy-based company produces cement, lime and reinforced concrete products.

In January, large cement enterprises in Uzbekistan produced 627,900 tonnes of cement, up 2.3 -fold y/y, according to the national statistics bureau. Production in January 2022, however, created a low base as in that month many companies were not operating at full capacity due to severely cold weather and power cuts.

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