Belaruskali posts biggest Q1 earnings among Belarusian cos
MINSK. July 7 (Interfax) - OJSC Belaruskali, Belarusian oil refineries, the Development Bank of the Republic of Belarus and OJSC Gomeltransneft Druzhba were the most profitable enterprises in Belarus in January-March 2014.
According to a report of the Belarusian Finance Ministry, in January-March 2014, potash miner Belaruskali had net profit of 1.35 trillion Belarusian rubles, which was 5.66 times larger than one year earlier. Belaruskali held first place on the list of the most profitable joint stock companies of the republic.
Second place, according to the size of net profit, was held by OJSC Mozyr Oil Refinery with 572.3 billion rubles net profit (fell 3.6%) and revenue of 8.76 trillion rubles (grew 19.5%).
In third place was the Development Bank of the Republic of Belarus with a net profit of 435.9 billion rubles (fell 32.3%), followed by OJSC Naftan, where net profit fell 73.4% to 156.2 billion rubles and revenue fell 4.8% to 9.56 trillion rubles.
Gomeltransneft Druzhba follows with net profit of 163.6 billion rubles (fell 35.2%). Last place in the top 10 most profitable enterprises of the country is held by Grodno Azot with a net profit of 154.2 billion rubles, which was 48% smaller year-on-year.
The Finance Ministry also said that there was substantial profit growth at OJSC Minsk Wheel Tractor Plant of 60% to 116.5 billion rubles and OJSC Gomel Chemical Plant had net profit increase 3.5 times to 111.2 billion rubles.
On the list of loss-making companies during Q1, the leader is OJSC Belaz, the leading company of Belaz Holding, which had net losses of 116.1 billion rubles against a net profit of 86.15 billion rubles in Q1 2013.
Second place for net losses is the Minsk Tractor Factory with losses of 107.2 billion rubles (data for 2013 is lacking, because last year the tractor factory was a republican unitary enterprise and did not submit reports to the ministry).
Fifth place according to the amount of net losses was the Minsk Automobile Factory with 97.1 billion rubles in losses against 83.1 billion rubles in net profit for January-March 2013.
The official exchange rate as of July 7 is 10,210 Belarusian rubles/$1.
