Ural Vagon Zavod: LEPSE Production Output Up 9%

17 June 2016 (09:21)

UrBC, Yekaterinburg, June 17, 2016. LEPSE (a member enterprise of Ural Vagon Zavod Corporation) held its annual general meeting recently, with Deputy Director-General for Finance Irina Peskisheva presenting her report on the company performance, the corporation’s press service reports.

‘The company’s assets gained 11% in value because we started using our capital stock and increased our reserves. Production output went up by 9% (including an 11% increase in aviation goods output). Also, we have no unpaid loans at the moment,’ she said.

According to Peskisheva, LEPSE has not been using any borrowed funds for the last five years. The company’s revenue rose by 6% thanks to increased demand and prices, with net profit up by 27%. The Board of Directors, chaired by Ural Vagon Zavod Corporation’s Director-General Oleg Sienko, decided to direct the profit to dividend payments, the company development fund, and the BOD members’ bonuses.

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