Nikora Group Ended 2019 with a Loss

The annual loss in 2019 was GEL 8.2 million, after a nearly 7 million profit in 2018. The total loss to the company is 6.33 million GEL.

The annual loss in 2019 was GEL 8.2 million, after a nearly 7 million profit in 2018. The total loss to the company is 6.33 million GEL.

According to the company's 2019 financial report, the group earned $ 540.5 million in revenue. Total profit increased by 39 million to 167.4 million GEL, as well as operating profit from 23.3 to 28.9 million GEL.

Revenue increased by 29.4%, cost of goods sold by 28.9%, as a result, the total profit margin improved by 0.3% and in 2019 amounted to 31%.

Retail (61%) and meat manufacturing (19%) businesses have the largest share in Nikora Group sales (before elimination).

It is noteworthy that financial and non-operating expenses increased by a total of 134.1%, to GEL 19.8 million, which is mainly due to the interest expense of the lease liability (GEL 9,821) and the loss caused by currency differences.