Uralvagonzavod-Finance’s net profit drops 92.98% in October-December 2007

The volume of Uralfinprombank’s net profit decreased by 6,660,000 RUR, or 18.11%, in the fourth quarter of 2007 compared to the previous quarter, their report says. The net profit dropped from 36,784,000 RUR in July-September 2007 to 30,124,000 RUR in October-December 2007. The bank explains this by the increased managerial expenses.

The net profit of OOO Uralvagonzavod-Finance decreased by 83.33% over one quarter. The figures dropped from 12,000 RUR in the last quarter of 2009 to 2,000 RUR in the first quarter of 2010. OOO Uralvagonzavod-Finance explains the drop in net profits has to do with increased general running costs and other expenses.

The net profit of Uralvagonzavod-Finance went down by 164,000 RUR, or 93.71% in the first quarter of 2009, that is, from 175,000 RUR in October-December 2008 to 11,000 RUR in January-March 2009. The company reports this drop in net profits has to do with increased outgoings.

Klyuchevsk Ferrous Alloys Works’ net profit volume went down by 37% in July-September 2007, the company’s quarterly report states. Profits dropped from 86,009,046 RUR in the second quarter of the year to 54,009,575 RUR in the third quarter, which means the figures decreased by 31,009,471 RUR over the course of three months. The company explains this was due to a decrease in output and sales of ferrotitanium; this, in its turn, was brought about by plummeting global prices, plenty of titanium scrap accumulated all over the world, and noticeably less favorable ferrotitanium market opportunities

'We happen to be Societe Generale’s daughter enterprise, and yet we are quite independent from its financial successes or failures. Despite the current problems, Societe Generale will probably provide us with the resources it was expecting to allot. I personally don’t feel the crisis has affected our company in any way, and we haven’t had to cut down on our development program yet. However, the things that happened were not particularly good ones because they mean we’ll still have to work as hard as at the very beginning,’ BSGV-Yekaterinburg’s GD Andrei Pavin announced at the press