Nizhny Novgorod oil and fats mill ups RAS net profits 340% in 2012
NIZHNY NOVGOROD. March 22 (Interfax) - OJSC Nizhny Novgorod Oil and Fat Mill (NMSC) made 425.807 million rubles in net profits to Russian Accounting Standards (RAS) last year, a 4.4-fold increase from the year before, the company reported.
Sales revenues amounted to almost 12.650 billion rubles, a 19.1% increase.
An explanatory message accompanying the RAS report says the main factor involved in these financial figure increases was a drop in the market price for sunflower seed.
Main company financials for 2012, 1,000 rubles:
| 2012 | 2011 | |
| Sales revenues | 12 649 578 | 10 625 097 |
| Cost of sales | 11 020 497 | 9 767 031 |
| Gross profits | 1 629 081 | 858 066 |
| Sales profits | 596 497 | 275 175 |
| Pretax profits | 522 567 | 124 059 |
| Net profits | 425 807 | 95 908 |
The company's accounts payable decreased from 1.747 billion rubles at the start of last year to 1.685 billion rubles at the end. Its accounts receivable rose from 1.242 billion rubles to 1.479 billion rubles.
Nizhny Novgorod Oil and Fat Mill turned out 92,016 tonnes of margarine product last year, up 8.1%, 77,861 tonnes of mayonnaise, up 6.5%, 17,172 tonnes of household soap, up 14.3%, and 11,676 tonnes of soap for children, up 9.2%.
Nizhny Novgorod Oil and Fat Mill is part of the NMSC company group. It produces mayonnaise, margarine, and spreads, bathroom and household soap. NMSC's sole shareholder is the production and commercial firm Profit LLC, also in Nizhny Novgorod.
In the company group are enterprises will full production cycles. The group includes OJSC Nizhny Novgorod Oil and Fat Mill, OJSC Samara Fat Rendering Plant, OJSC Perm Margarine Plant Sdobri, the Uryupinsk (Volgograd Region) and Orenburg oil-extraction plants, elevators, and cropland in Saratov and Samara Regions and Bashkortostan.