3 Apr 2015 11:02

Stroytransgaz posts more losses in 2014; expects nonpayment of 3 bln rubles in loans to subsidiaries

MOSCOW. April 3 (Interfax) - Stroytransgaz (STG) posted a net loss of 1.4 billion rubles in 2014, the same level as in 2013, the company said in its earnings statement.

Revenue rose 25% to 26.4 billion rubles and costs were up 36% to 24.5 billion rubles. The gross profit dropped to 1.8 billion rubles from 2.5 billion rubles. STG had a loss on sales amounting to 86.3 million rubles, compared with a profit on sales totaling 840 million rubles in 2013, owing to a 16% increase in administrative expenses.

Despite a reduction in "other expenses" to 7 billion rubles from 9 billion rubles, the pretax loss increased to 1.6 billion rubles.