Kuibyshevazot increases RAS revenue by third in H1, maintains profits at last year's level
SAMARA. July 27 (Interfax) - Russian chemicals producer Kuibyshevazot posted a net profit to Russian Accounting Standards (RAS) of 2.7 billion rubles in January-June 2018, the same amount as in H1 2017, the company said.
Kuibyshevazot sold finished goods worth 28.4 billion rubles in January-June, up 34.7% on the same period last year.
"Revenue growth was mainly driven by increased sales of core products as well as favorable market conditions," the company said.
The company also increased output of its core products.
Production volumes of ammonia, including output at joint venture LLC Linde Azot Tolyatti, rose 42% to 558,500 tonnes; caprolactam - up 14.7% to 108,200 tonnes, Nylon 6 - 6.7% to 108,200 tonnes, cord fabric - 9% to 1,700 tonnes, impregnated cord fabric - 19.9% to 9.5 million tonnes. Production of industrial yarn fell 41.7% to 3,400 tonnes.
Production of mineral fertilizers in 100% nitrogen equivalent remained at same level as in H1 2017 at 252,800 tonnes. Output of ammonia nitrate rose 3% to 324,800 tonnes, urea -up 3.5% to 179,000 tonnes and ammonium sulfate - up 13.7% to 274,600 tonnes.