Uralvagonzavod’s Profitability Declines

17 August 2011 (10:31)

Uralvagonzavod Scientific & Production Corporation announced it performance results recently.

The company’s revenues reached 30bn RUR in the first half of 2011, its gross profit amounted to 8.11bn RUR, while its net profit exceeded 3.66bn RUR. All these figures are better than those for the first half of 2010.

The increase in revenues, the issuer reports, was brought about by great demand for the enterprise’s carriage-making division’s produce.

At the same time, the profitability of the plant’s produce decreased down to 18.3%. Uralvagonzavod explains this stems from the growing prime cost.

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