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Parex Leasing & Factoring posts a 60% decline in profit

Parex Leasing & Factoring posts a 60% decline in profit

16 January 2009 12:46 (UTC +04:00)

Baku. Elnur Huseynguluyev â€“ APA-Economics. As at January 1, the title subsidiary in Azerbaijan of Latviaâ€™s Parex Leasing & Factoring posted its leasing portfolio at $35.620 million, up 19% on a year ago.
The company said total capital rose 31% to AZN 194 785 and authorized capital stood at AZN 40 750.
The number of leasing contracts rose 48.5% to 934 and the total cost of the leasing contracts increased 35.7% to $25.11 million. The lease of construction vehicles and equipment accounted for the bulk of the portfolio.
The companyâ€™s profit rose 59.6% to AZN 38 710.
Parex Leasing & Factoring was registered in Azerbaijan in 2005.

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