Sibur RAS net profit slides 9% in H1
MOSCOW. Aug 16 (Interfax) - OJSC Sibur Holding's net profits to Russian Accounting Standards (RAS) fell 9% year-on-year to 31.09 billion rubles in the first half of 2012, the company reported.
Company sales revenues were up 6% at 120.9 billion rubles, cost of sales 7.5% at 70.4 billion rubles, and gross profits 4% at 50.5 billion rubles. Pretax profits were down 8% at 38.37 billion rubles and sales profits 3% at 34.14 billion rubles.
Sibur Holding's long-term credits and loans in aggregate contracted by more than two thirds to 41.046 billion rubles, short-term credits and loans 7.4% to 35.917 billion rubles.
Sibur Holding ended the first half of this year as Russia's biggest producer of liquid gases (accounting for 32%), of monoethylene glycol (67.1%), and of high-pressure polyethylene (42.2%).
The bulk of the holding's exports were countries in Eastern Europe (35%, including the Commonwealth of Independent States), Western Asia (24%, mainly Turkey), Northern Europe (17%, mainly Finland), Western Europe (19%, mainly the Netherlands), East Asia (3%, mainly China), and Central Europe (1%, mainly Germany).