Material Impex JSC, listed in the Tier 2 on the Mongolian Stock Exchange, imported 1392 freight imports containers in 2017 increasing by 62 percent from 2016. Import of freight wagons increased by 5 times and reached 155 wagons in 2017. Container export fell 50 percent. 56 percent of cargo transportation were new and old vehicles and their spare parts, while 38 percent were food products. Transportation of new and old vehicles increased by 45 percent compared to the previous year, according to Material Impex JSC. The company earned net profit of MNT 492.98 million in 2017 dropping 49 percent year-on-year. It is explained by the banned flour import from the government. Wheels of flour from the Russian Federation has stopped.

In addition, Russia’s restriction on transit imports from Ukraine reduced imports of candies. Material Impex JSC decided to distribute a total of MNT 13.68 million dividends or MNT 10 per share. It is the 8th time when the company is distributing dividends since its IPO.

Stock price of Material Impex JSC with market capitalization of MNT 13 billion increased by more than 10 percent year-on-year and reached MNT 9500.

Source: BloombergTv.mn