27.08.2010
CHANGED CATEGORY OF JSC AZIA AVTO COMMON STOCK
On July 27, 2010 JSC AZIA AVTO common stocks KZ1C49860014 (ASAV) have been included by the Decision of KASE into third category of official KASE list.
The Decision was made in accordance with subclause 2) clause 2 Article 16 of KASE internal document "Listing Rules".
JSC AZIA AVTO expects further upgrading of category of the company’s stock in the beginning of next year along with posting its financial statements according to results of 2010.
It should be noted, that financial results of current year display impressive signs of post-crisis growth. 2008 and 2009 were finished with dead loss in amount of KZT 422,4 and 709,6 mlns. correspondingly, but in the second quarter of 2010 the company attained a positive yield and in July net profit amounted to KZT69,8 mlns. Such financial result have become the highest from the beginning of crisis period which caused reduction of consumer demand on Kazakhstan market of passenger cars more then three times within 2007-2009.
Due to extension of model line up to 13 models and change of pricing policy the company was able to strengthen its market positions impetuously.
In the second half of this year JSC AZIA AVTO intends further extension of KIA model line up to seven models. Besides, the plant will start serial production of the newest crossover Skoda Yeti and subcompact Skoda Fabia.
As a result, production capacity of this year surpassed values of 2009 more than 4,84 times. According to 2010 income of JSC AZIA AVTO will equal to KZT 8,2 billions and net profit will leveled to KZT 253 millions.