24 Jul 2014 10:45

Kuzbass Fuel Co earnings to RAS shrink 40% in H1

KEMEROVO. July 24 (Interfax) - Kuzbasskaya Toplivnaya Kompaniya (KTK, Kuzbass Fuel Co) saw its net profit to Russian Accounting Standards (RAS) shrink 39.5% year-on-year in H1 2014.

The coal producer said in a statement that net profit was 47.4 million rubles in H1 2014. It was 78.4 million rubles in the same period of last year.

Sales revenue grew 1% year-on-year to 8.36 billion rubles.

KTK financial highlights ('000 rubles):

	H1 2014	H1 2013
Sales revenue	8 355 549	8 274 469
Cost of sales	2 848 609	2 673 379
Gross profit	5 506 940	5 601 090
Operating profit	4 709 965	4 726 046
Profit before tax	471 742	560 907
Net profit	73 251	112 796
Sales revenue	47 439	78 443

The company's receivables grew 49% during H1 2014 to 3.41 billion rubles while payables fell 9.5% to 1.436 billion rubles.