UAC net losses double in 2011
MOSCOW. March 30 (Interfax) - OJSC United Aircraft Corporation (UAC) saw its net losses to Russian Accounting Standards (RAS) double last year to 14.7 billion rubles, the corporation reported.
Company sales revenues contracted by almost a third to 1.9 billion rubles, though gross profits surged 140% to 323 million rubles.
UAC's short-term accounts payable for the year increase from 1.6 billion rubles to 5.6 billion rubles, its short-term accounts receivable from 17.9 billion rubles to 28.6 billion rubles.
The corporation's ran up 7.153 billion rubles in net losses and posted sales revenues of 2.864 billion rubles in 2010.
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.