Acron subsidiary Dorogobuzh sees 2014 IFRS earnings plummet 85.3% to 598 mln rubles
MOSCOW. April 30 (Interfax) - The Acron fertilizer group's Dorogobuzh subsidiary saw net profit to International Financial Reporting Standards (IFRS) plummet 85.3% in 2014 to 598 million rubles, the company said in a report.
Taking into account the fact that for 9M 2014, Dorogobuzh posted 2.204 billion rubles of net profit, the company's net losses in Q4 of last year were 2.802 billion rubles.
The company's revenue in 2014 fell by 8% to 16.102 billion rubles. The cost of sales of products was 9.889 billion rubles in 2014 against 10,879 billion rubles in 2013.
The gross profit of the company last year fell by 6% to 6.213 billion rubles.
Dorogobuzh's pretax profit in 2014 was 772 million rubles against 5.112 billion rubles in 2013.
OJSC Dorogobuzh is part of Russian mineral fertilizer producer Acron . The main production enterprises of the group are OJSC Acron (Veliky Novgorod) and Hongri Acron (China).
