VIZ-Stal’s revenues drop 38.15%

7 May 2010 (12:14)

OOO VIZ-Stal’s revenues decreased by 38.15% in January-March 2010. The figures dropped from 3 billion RUR in the fourth quarter of 2009 to 1.9 billion RUR in the first quarter of 2010.

The company’s gross profit went down by 52.13%, or down to 775.2 million RUR. In addition, the sales revenues plunged by 56.58% and the net profit declined by 48.44%.

The enterprise explains these less-than-impressive financial achievements have to do with the 31% drop in sales. This, in its turn, was brought about by the increase in FOB shipments, which resulted in major delays in the registration and sales of the goods shipped in March 2010.

‘As far as the first quarter of 2010 is concerned, the average price of transformer rolled products was lower than that for the previous quarter, which was another reason our financial performance was not so good,’ VIZ Stal reports.

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