Concern Kalina’s net profit goes down 34.3%

25 May 2009 (09:22)

Concern Kalina’s net profit (calculated in accordance with the International Accounting Standards) went down by 34.3% in the first quarter of 2009 compared with a year earlier and reached 139.4 million RUR, the spokesperson for the company reports.

The cosmetics manufacturer’s revenues amounted to 3.6 billion RUR and its gross profit to 1.91 billion RUR over the same period of time. EBITDA rose by 17.3% and came to 471.88 million RUR.

Besides, the changing lending practices and the devaluation of the ruble against the U.S. dollar and the Euro in the second half of 2008 and the early months of 2009 have led to the company’s increased interest rate payments (these went up by 94.4% against the first quarter of 2008) and 100.66 million RUR worth of losses caused by the new exchange rates. As a result, the manufacturer’s dropping net profit and a 3.9% decrease in net margin figures.

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