Abrau-Durso shareholders decide to retain 2015 net profit
MOSCOW. June 23 (Interfax) - The shareholders of Abrau-Durso , one of Russia's leading producers of sparkling wines, at an annual meeting on Wednesday made the decision to retain net profit for 2015, company materials on the results of the annual shareholders meeting on Wednesday said.
According to the annual report, the company's net profit to Russian Accounting Standards (RAS) in 2015 amounted to 47.9 million rubles against 101.5 billion rubles in 2014.
It was reported earlier that net profit to International Financial Reporting Standards (IFRS) in 2015 tripled and reached $2.092 million.
The company also did not pay dividends for 2014.
The Abrau-Durso estate was established in 1870 by order of Tsar Alexander II. In the Soviet era, Abrau-Durso was the leading maker of Soviet sparkling wine. SVL, headed by Boris Titov, bought 58% of the winery in 2006. In 2011, the company bought 42% of shares from an eponymous government company owned by the Krasnodar Territory.
According to Abrau-Dorso, 76.73% of its shares are owned by LLC Aktiv-Media, 11.7% is owned by Pavel Titov, the son of Boris Titov. According to the SPARK-Interfax database, the owner of Aktiv-Media is Boris Titov.
