31 Oct 2018 16:34

Fortum Russia boosts net profit 11.6% in 9M 2018

CHELYABINSK. Oct 31 (Interfax) - PJSC Fortum boosted net profit to Russian Accounting Standards (RAS) 11.6% year-on-year to 9.745 billion rubles, the company said in reporting.

Revenue was up 12.9% and totaled 52.47 billion rubles.

Cost of sales increased 15.7% to 37 billion rubles, operating profit was up 6.7% to 15.4 billion rubles.

Fortum financial highlights ('000 rubles):

	9M 2018	9M 2017
Revenue	52 469 956	46 488 739
Cost of sales	37 023 515	32 010 197
Gross profit	15 446 441	14 478 542
Operating profit	15 446 441	14 478 542
Pre-tax profit	12 335 693	11 223 724
Net profit	9 744 953	8 731 447

The company's receivables declined from 19.471 billion rubles at the end of 2017 to 17.182 billion rubles on September 30, 2018. Payables decreased from 6.452 billion rubles to 5.982 billion rubles.