Susumanzoloto RAS net profit slumps in Jan-Sept
MAGADAN. Nov 6 (Interfax) - OJSC Susumansky Mining and Processing Complex, or Susumanzoloto, posted net profit to Russian Accounting Standards of 234.595 million rubles, down 64.3% year-on-year, the company reported.
Revenue grew 17.2% to 5.223 billion rubles.
The company did not provide a comment on the results.
Key financial indicators (000/rubles):
| 9M 2013 | 9M 2012 | |
| Sales revenue | 5 223 228 | 4 456 684 |
| Cost of sales | 4 665 789 | 3 371 511 |
| Gross profit | 557 439 | 1 085 173 |
| Operating profit | 397 105 | 948 468 |
| Profit before tax | 277 576 | 793 311 |
| Net profit | 234 595 | 650 924 |
Payables increased from 1.22 billion rubles at the start of 2013 to 1.25 billion on September 30 2013.
Susumanzoloto operates alluvial and ore gold deposits in the Susumansy, Tenkinsky, Khasynsky and Yagodinsky districts of the Magadan region. As of January 1, 2013, there were 28 tonnes of C1 and C2 precious metal on the company's balance, including 21 tonnes of alluvial gold and 7 tonnes of gold ore.
Vladimir Khristov, the chairman of the company's board of directors and its deputy chief for development and corporate management, owns 65.15% of Susumanzoloto's shares. Deputy chief for organizational and legal affairs Lyubov Gerasimova holds 14.94% of its shares, and Magadan-based LLC Business Cooperation Association has 14.45%.
