OREANDA-NEWS. December 28, 2009. Open joint stock company Bakielektriksebeke (Baku Electric Network; BEN), the key electric supplying network of Azerbaijan, has published results of its activity in 2008 saying of decline of net profit level by 24.8%.

According to the published data, BEN’s net profit reduced from AZN 29.819 million in 2007 to AZN 22.432 million in 2008 with fall of overall profit from AZN 43.415 million to 36.121 million and operating expenditures from AZN 38.23 million to AZN 28.759 million.

At the same time BEN’s assets for 2008 increased by AZN 364.278 million up to AZN 626.9 million, including growth of cost of lands, buildings and equipment from AZN 92.19 million up to AZN 177.95 million.

Simultaneously Company’s charter capital rose from AZN 47.4 million up to AZN 75.3 million and undistributed profit from AZN 33.579 million up to AZN 54.817 million.