Russian corporate profits up 15.9% in 10M - Rosstat
MOSCOW. Dec 23 (Interfax) - Combined pretax profit at medium and large enterprises (profit less losses) in Russia was 9.031 trillion rubles in January-October 2016, up 15.9% from 7.791 trillion rubles in the same period of last year, the Federal State Statistics Service (Rosstat) said.
Some 37,000 Russian enterprises made a combined 10.285 trillion rubles in profit in January-October 2016, while 14,700 others incurred losses totaling 1.255 trillion rubles.
Companies working in the extractive sector had combined profits falling 17.9% year-on-year in January-October 2016 to 1.752 trillion rubles, but the manufacturing sector had profit of 2.624 trillion rubles, up 29.4%, and the utilities sector (electricity, gas and water) had 477.8 billion rubles profit, up 2.2-fold.
In wholesale and retail trade, automotive transport maintenance, motorcycles, household goods and personal items, combined profits were down 19% to 1.341 trillion rubles.
In transport and communications, profit rose 60.1% to 1.208 trillion rubles; in agriculture, hunting and forestry, profit fell 4.2% to 223.2 billion rubles, and in fisheries profit was 70.1 billion rubles, up 41.6%.
Profit grew 42.6% to 109.7 billion rubles in construction.
The share of Russian enterprises that incurred losses was down 1.6 pp to 28.4% in January-October 2016.