GMS Group increases net profit by 180% in 9 mths
MOSCOW. Dec 6 (Interfax) - GMS Group increased its net profit by 180% year-on-year to 2.972 billion rubles in January-September 2011, the company said in a statement.
The company's sales revenue increased by 27% to 20.56 billion rubles while EBITDA went up by 95% to 4.398 billion rubles. Operational profit increased by 97% to 3.912 billion rubles.
GMS Group's net debt went up by 53% to 4.885 billion rubles.
The company's net profit in the third quarter increased by 34% to 890 million rubles while sales revenue declined by 4% to 6.703 billion rubles. EBTIDA reached 1.265 billion rubles, up 14%. The company's operational profit increased by 20% to 1.169 billion rubles.
GMS Group's profit increased thanks to operational diversification, which allowed the company to sign an average number of contracts in various segments.
The company said that it plans to take part in several tenders in the near future for the development of fields in Eastern Siberia.
GMS Group is a major scientific and production outfit that designs and builds pumping and oil-industry equipment, power-generation installations, and hydraulic systems for various industries, the power sector, pipelines, and public utilities.