Net Profit of Asha Metallurgical Works goes down 56.7% in July-September 2007

1 November 2007 (10:15)

Asha Metallurgical Works reports its profit dropped by over 10% in the third quarter of 2007. The company’s net profit decreased from 506,739,648 RUR in April-June 2007 to 219,174,150 RUR in July-September 2007, which means profits went down by 287,564,498 RUR, or by 56.7%. This had to do with smaller sales revenues and prime cost growth.

The company’s sales revenues dropped by 6.4% due to smaller production output and lower transfer prices. The prime cost of the company’s products rose by 10.7% due to raw materials becoming more expensive and due to a number of overhauls conducted by the company in September 2007.

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