Kemerovo Koks boosts net profit by 26% in H1
KEMEROVO. Aug 16 (Interfax) - PJSC Koks (Kemerovo, the flagship company of Industrial Metallurgical Holding (IMH)) increased net profit to Russian Accounting Standards (RAS) by 26% year-on-year in January-June 2016 to 2.127 billion rubles, Koks said in a report.
The company's revenue fell 5% to 13.717 billion rubles.
The reasons for the changes in financials in the reporting period were not disclosed. IMH told Interfax that the reduction in revenue was attributable to the fall in average sales prices. "The increase in net profit took place due to the positive exchange rate, which formed during the revaluation of forex borrowings [2.6 billion rubles in H1 2016]," the holding said.
According to materials, other income rose by 40% from 9.694 billion rubles in H1 2015 to 13.678 billion rubles in H1 2016, other expenditures rose 24%, from 9.308 billion rubles to 11.526 billion rubles.
JSC Koks' financial highlights ('000 rubles):
| H1 2016 | H1 2015 | |
| Revenue | 13 717 147 | 14 457 634 |
| Cost of sales | 9 117 166 | 9 134 634 |
| Gross profit | 4 599 981 | 5 323 000 |
| Operating profit | 1 885 070 | 2 809 217 |
| Pretax profit | 2 760 600 | 2 055 703 |
| Net profit | 2 126 929 | 1 683 449 |
Accounts receivable fell from 7.437 billion rubles as at the end of 2015 to 6.985 billion rubles as at June 30, 2016. Long-term obligations rose from 15.947 billion rubles to 21.792 billion rubles and short-term obligations fell from 20.657 billion rubles to 12.856 billion rubles, respectively.
