Agent’s Fee Comprises over 50% of Mid-Urals Development Corporation’s Revenues Last year, Capital Says

3 July 2012 (09:19)

The Mid-Urals Development Corporation published its balance sheet and the profit and loss statement for 2011. These data became available from Oblastnaya Gazeta today.

According to these data, the company’s accounts receivable rose by nearly eight times over one year and came to 81.95m RUR, while its accounts payable dropped down to 1.75bn RUR.

The immediately available funds and cash equivalents decreased to 687.99m RUR.

Capital Auditing Company reports that over 50% of revenues the Mid-Urals Development Corporation obtained last year came from an agent’s fee paid for the agency contract dated October 25, 2011. The contract was signed with Ural Exhibition Center (the principal). The said agency contract provided for the Mid-Urals Development Corporation taking steps to ensure Ural Exhibition Center gets state guarantees from Sverdlovsk Region.

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