Stavrolen increases net profit 9% in 2011
MOSCOW. July 26 (Interfax) - According to the SPARK database, LLC Stavrolen, which is part of oil company Lukoil , increased net profit according to Russian accounting standards (RAS) by 9.4% to 4.203 billion rubles in 2011.
According to the SPARK database, the company's sales revenue increased by 14.7% to 21.607 billion rubles while production costs went up by 20.5% to 15.676 billion rubles. Gross profit went unchanged and came to 5.893 billion rubles. Stavrolen's profit from sales increased by 3% to 5.215 billion rubles while pretax profit went up by 9.5% to 5.27 billion rubles.
It was earlier reported that an accident took place at Stavrolen on December 15. As a result, the plant halted production. The company restarted production of polypropylene using imported materials in March. However, operations still have not reached full capacity.
