The net profit of Ufaorgsintez increases by 67% in Q1 2016.
Edited by Rhod Mackenzie / 2016-05-19 07:07:29
Finance Oil and Gas Refining Russia Petrochemicals PolymerUpdate Financial results Russia Oil and Gas Bashneft Production and Refining
In Q1 the net profit of Ufaorgsintez (UOS), a member of Bashneft, rose to 1.91 billion roubles, which is 67% higher than within the same period a year earlier, according to the quarterly statements.
Revenues amounted to 7.58 billion roubles against 7.62 billion roubles a year earlier. Cost of sales decreased by 8.4% to 5.51 billion roubles. As a result, gross profit increased by 29% to 2.07 billion roubles. Operating profit increased by 31% and amounted to 1.55 billion roubles. Profit before tax reached 2.44 billion roubles.
