Business Political Insights BPI.GE
TBILISI(BPI)- In 2019 Nikora chain opened 30 new supermarkets while the number of employees exceeded 5,000.
Despite such impressive achievements, the company ended 2019 with losses, the report by the auditing firm GrantThornton says.
The company’s assets grew from GEL 130 million to GEL 243 million in one year, short-term assets increased from GEL 12 to GEL 58 million, long-term assets – from GEL 99 to GEL 185 million.
Nikora’s income increased by GEL 95 million in 2019 compared to 2018 and amounted to GEL 440 million, of which the cost of goods sold amounted to GEL 325 million increasing sales revenue by GEL 27 million to GEL 115 million compared to 2018.
Distribution costs increased from GEL 49 to GEL 59 million, administrative expenses – from GEL 33 to GEL 47 million .
The lari’s fluctuations arisen from the floating exchange rate caused the company a loss of GEL 7,3 million , financial expenses amounted to GEL 15 million, non-operating expenses – GEL 2 million.
Thus, the company’s loss amounted to GEL 15.5 million. The company ended 2018 with losses in the amount of GEL 1, 14 million.
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