12 Apr 2012 16:43

Kuzbassrazrezugol coal co boosts earnings 11% in 2011

KEMEROVO. April 12 (Interfax) - Kuzbassrazrezugol Coal Company, or KRU boosted net profit to Russian Accounting Standards (RAS) 11% in 2011 to 8.239 billion rubles, the company said in materials.

Sales revenue grew 20% to 60.859 billion rubles.

KRU financial highlights, '000 rubles

	2011	2010
Sales revenue	60 858 938	50 764 500
Cost of sales	35 687 711	27 844 734
Gross profit	25 171 227	22 919 766
Operating profit	14 960 898	12 805 660
Pretax profit	10 672 682	9 582 287
Net profit	8 238 729	7 425 270

Long-term liabilities fell to 4.874 billion rubles from 24.328 billion rubles during the year, short-term liabilities grew to 32.254 billion rubles from 8.552 billion rubles, and receivables rose to 9.909 billion rubles from 9.097 billion rubles.

KRU, Russia's second biggest coal producer, mined 47 million tonnes of coal last year, including 5 million tonnes of coking coal.