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Finance 05/04/2012 Madad posts net loss for 288.39m soums in 2011
Madad posts net loss for 288.39m soums in 2011
Tashkent, Uzbekistan (UzDaily.com) -- Open joint stock company, agency for insurance of protection of private entrepreneurship and small business Madad received net loss for 288.39 million in 2011 against 188.081 million soums in 2010.

According to the data, published in local media, the company rendered insurance services for over 205.5 billion soums in 2011, which grew by 35% year-on-year. The company collected 925.7 million soums of insurance premiums (100%). Madad signed 10,400 agreements.

Net revenue rose from 756.13 million soums in 2010 to 947.135 million soums in 2011. Prime cost of rendered services made up 377.88 million soums in 2011 against 359.739 million soums in 2010.

Gross income of Madad grew from 396.39 million soums in 2010 to 569.257 million soums in 2011.

Expenses of the company reached 894.959 million soums in 2011 against 766.772 million soums in 2010. Other incomes from main activities rose from 13.448 million soums to 21.672 million soums in the reporting period.

Loss from main activity fell from 356.933 million soums in 2010 to 304.04 million soums in 2011.

Income from financial activities decreased from 197.414 million soums to 73.823 million soums in the reporting period. Expenses from financial activities fell from 69.9 million soums in 2010 to 43.69 million soums in 2011.

Fixed assets made up 1.289 billion soums in 2011 against 1.247 billion soums in 2010. The capital investments fell from 941.433 million soums in 2010 to 832.783 million soums in 2011.

The charter capital of the company made up 2.1 billion soums. Insurance reserves of Madad fell from 66.712 million soums in 2010 to 635.833 million soums in 2011. Reserve capital grew from 251.126 million sums in 2010 to 427.241 million soums in 2011.

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