Nizhnekamskneftekhim net profit down 5% to 25.1 bln rubles in 2016
MOSCOW. March 6 (Interfax) - Nizhnekamskneftekhim posted 25.052 billion rubles in net profit to Russian Accounting Standards (RAS) in 2016, down 5% compared to 2015, the Tatarstan-based petrochemicals company said in a report.
Revenue increased almost 2% to 153.412 billion rubles. Sales on the domestic market grew 2.8% to 80.424 billion rubles and exports edged up 0.8% to 72.988 billion rubles.
Cost of sales rose 4% to 117 billion rubles, gross profit fell 5.5% to 36.407 billion rubles and operating profit fell 18% to 22.273 billion rubles.
Receivables more than doubled last year to 29.78 billion rubles and payables grew 33% to 13.473 billion rubles.
Nizhnekamskneftekhim is one of the biggest manufacturers of synthetic rubbers in the world and one of Russia's biggest plastics manufacturers. The TAIF Group has consolidated 77.7908% of voting shares in Nizhnekamskneftekhim, according to the Federal Antimonopoly Service (FAS).
