Amurmetal net loss to RAS down by third in Jan-Sept
KHABAROVSK. Nov 15 (Interfax) - OJSC Amurmetal (Komsomolsk-on-Amur), the only iron and steel manufacturer in Russia's Far East, saw its net loss to Russian Accounting Standards drop by 34.3% year-on-year in January-September 2012 to 1.3 billion rubles, the company said in its Q3 report.
"A key factor behind the reduction in net loss was the improved result for other operating and non-sale activity," the report says.
Revenue fell 8.1% to 9.62 billion rubles.
Spending on the investment program was 89.28 million rubles. Part of this money was used to clear payables.
Financial highlights for 9M of 2012 ('000 rubles):
| 9M 2012 | 9M 2011 | |
| Sales revenue | 9 620 022 | 10 468 150 |
| Cost of sales | 8 909 652 | 9 918 918 |
| Gross profit | 780 370 | 549 232 |
| Operating profit (loss) | (386 337) | (572 870) |
| Profit before tax (loss) | (1 781 981) | (2 427 435) |
| Net profit (loss) | (1 304 624) | (1 985 351) |
Payables climbed from 1.12 billion rubles at the start of 2012 to 1.25 billion on September 30. Receivables stood at 1.06 billion on September 30.