Russian corporate profits down 5.2% in 5M - Rosstat
MOSCOW. July 23 (Interfax) - Combined pre-tax earnings at medium and large enterprises (profit less losses) in Russia fell 5.2% year-on-year in January-May to 3.393 trillion rubles, the Federal State Statistics Service (Rosstat) said.
Some 36,500 Russian enterprises made a combined 3.913 trillion rubles in profit in the 5M, while 16,800 others incurred losses totaling 519.5 billion rubles.
Companies working in the extractive sector had combined profits falling 0.6% in January-May to 825.6 billion rubles. The utilities sector (electricity, gas and water) made 171.5 billion rubles, down 37.6%; and the manufacturing sector - 704.9 billion rubles, down 17.4% from a year previously.
In wholesale and retail trade, automotive transport maintenance, motorcycles, household goods and personal items, combined profits rose 2.1% to 997 billion rubles. They rose 1% to 410.1 billion rubles in transport and communications, 80.8% to 98.5 billion rubles in real estate, 34.8% to 45.9 billion rubles in agriculture and 8.1% to 9.1 billion rubles in fisheries, falling 17.1% in the construction industry to 19.6 billion rubles.
The share of Russian enterprises that incurred losses was down 3.6 percentage points compared to January-May 2011 at 31.4%.