VSMPO Avisma’s Net Profit Down 20% in QI’18
17 May 2018 (09:46)
UrBC, Yekaterinburg, May 17, 2018. VSMPO Avisma Corporation’s net profit (calculated in accordance with the Russian Accounting Standards) declined by 20%, down to RUR 4.069bn, in the first quarter of 2018 compared with one year earlier.
‘The drop in our net profit had to do with recent changes in our balance sheet items that we have to quote in foreign currency; the ruble exchange rate improving in the first quarter of 2018 against the first quarter of 2017 also proved a factor,’ the company press service says.
As for the company’s revenues, these rose by 1% in QI’18 compared with QI’17 and reached RUR 18.033bn.
‘The drop in our net profit had to do with recent changes in our balance sheet items that we have to quote in foreign currency; the ruble exchange rate improving in the first quarter of 2018 against the first quarter of 2017 also proved a factor,’ the company press service says.
As for the company’s revenues, these rose by 1% in QI’18 compared with QI’17 and reached RUR 18.033bn.
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