Uzmetkombinat JSC has published its results for the 1st half of 2025

* Revenue fell by 23.1%

* Cost of sales decreased by 28%

* EBIT increased by 10%

* Net profit decreased by 12 times

* The estimated P/B ratio at 4,000 soums per share is 0.4;

* The estimated P/E ratio at 4,000 soums per share is 22.

The rating is below the market, upside when the situation improves.