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Kyrgyzaltyn’s profit grows 3.5 times at year-end 2019

The net profit of Kyrgyzaltyn OJSC amounted to 310.5 million soms at year-end 2019, which is 3.5 times higher than the profit for the same period of 2018. Press service of the company reported.

The net profit in 2020 is expected at 850 million soms. At the same time, the budget received 204,847.8 million soms in taxes and deductions as a result of last year.

«It was decided to increase the salary of employees of the management staff of Kyrgyzaltyn OJSC, structural units and branches of the Gold Refinery, Solton-Sary and Kyrgyzaltyn-Kurulush mines from 10 to 30 percent from June 1, 2020,» the company said.

Kyrgyzaltyn noted that profit increased due to reduction of losses of gold mining branches and proper coordination of all production processes.

«In 2019, the company carried out tremendous work to improve the investment attractiveness of the branches. One of the main achievements of Kyrgyzaltyn is attraction of investor for rehabilitation of Makmal field. This made it possible to provide people with work and maintain the budget profitability of Toguz-Toro district,» Almaz Alimbekov, Chairman of the Board of the company, said.