Uralkaliy’s net profit drops 25 times
18 March 2010 (09:03)
The net profit of OAO Uralkaliy (calculated in accordance with the Russian Accounting Standards) decreased by 25.5 times last year in comparison to the year 2008, that is, from 29.48 billion RUR to 1.15 billion RUR.
The company explains such a large drop in profit has to do with shrinking produce sales, which, in their turn, were caused by the plummeting global demand at the time of an economic recession.
‘What is more, last year the company had to pay 7.8 billion RUR to compensate for the expenses related to dealing with the accident at one of their divisions,’ Kommersant reports.
The company explains such a large drop in profit has to do with shrinking produce sales, which, in their turn, were caused by the plummeting global demand at the time of an economic recession.
‘What is more, last year the company had to pay 7.8 billion RUR to compensate for the expenses related to dealing with the accident at one of their divisions,’ Kommersant reports.
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