UAC posts 1.66 bln rubles in losses for Q1
MOSCOW. May 16 (Interfax) - OJSC United Aircraft Corporation (UAC) posted 1.66 billion rubles in net losses according to Russian accounting standards (RAS) for the first quarter of 2012 compared to 27.4 million rubles in net profit for the same period of 2011, the corporation said in its RAS reporting.
UAC's sales revenue went up 13.4 times in January-March to 3.227 billion rubles.
The corporation's gross profit doubled to 49.6 million rubles while losses from sales increased by 24.6% to 200.4 million rubles. Miscellaneous revenue went up by 120% to 200.2 million rubles.
The company's accounts receivable increased from 91.7 billion rubles on December 31, 2011 to 93.1 billion rubles on March 31, 2012. Accounts payable went up from 5.6 billion rubles to 7.4 billion rubles.
UAC doubled its net losses in 2011 to 14.7 billion rubles. Sales revenue decreased by 32% to 1.954 billion rubles.
UAC comprises OJSC Sukhoi Aviation Holding Company, OJSC Irkut Corporation , OJSC Tupolev, CJSC Aviastar-SP, OJSC Ilyushin Aviation Complex (RTS:AKIL), OJSC Voronezh Aircraft Plant , OJSC Ilyushin Finance Co., OJSC Kazan Aviation Production Association n.a. S. P. Gorbunov, and OJSC Komsomolskoye-on-Amur Aviation Production Association n.a. Y. A. Gagarin, among others.