25 Apr 2019 16:58

Russian corporate profits soared 43.4% in Jan-Feb - Rosstat

MOSCOW. April 25 (Interfax) - Russian enterprises posted 2.472 trillion rubles in combined pretax profits - the balance (profit less losses) of organizations - in January-February 2019, up 43.4% from 1.724 trillion rubles in the same month last year, the Federal State Statistics Service (Rosstat) said, quoting preliminary data.

Some 31,200 Russian enterprises made a combined 3.11 trillion rubles in profit in January-February 2019, while 16,400 others incurred losses totaling 637.3 billion rubles.

Companies working in the extractive sector saw combined profits rise 16.9% in January-February to 605.9 billion rubles.

The manufacturing sector had 578.5 billion rubles profit, up 51.7%.

In wholesale and retail trade, and automobile repair, combined profits were up 63.6% to 513.2 billion rubles.

In transport and logistics, profit was 184.6 billion rubles, up 29.2%, and in communications it was 67.0 billion rubles, up 51.8%.

In electricity, gas and water production and transmission profits were up 19.9% to 246.0 billion rubles.

In agriculture, forestry hunting and fisheries, profit rose 69.5% to 63.1 billion rubles.

Profits in construction grew 4-fold to 50.2 billion rubles.

The share of Russian enterprises that incurred losses grew 0.7 percentage points in January-February to 34.4%, according to preliminary data.

Russian enterprises posted 13.792 trillion rubles in combined pretax profits in 2018, up 46.6% from 9.412 trillion rubles in 2017.