1 Sep 2010 14:29

Pavlodar refinery ups net profit to 1.945 bln tenge

ALMATY. Sept 1 (Interfax) - Kazakhstan's Pavlodar Petrochemical Plant posted a net profit of 1.945 billion tenge in the first half of 2010 under IFRS, up from 0.109 billion tenge in the same period last year, the company said in its consolidated earnings statement.

Revenue from sale of products and services rose to 15.1 billion tenge (from 7.2 billion tenge a year earlier). The cost of product sold equaled 11.6 billion tenge (6.8 billion tenge), gross profit rose to 3.6 billion tenge (0.410 billion tenge) and pretax profit was 2.6 billion tenge (0.148 billion tenge)

Assets rose to 14.5 billion tenge on June 30, 2010, up from 12.8 billion tenge. Liabilities declined to 4.3 billion tenge from 4.5 billion tenge. Capital increased to 10.2 billion tenge from 8.2 billion tenge. Charter capital was unchanged at 7 billion tenge.

The Pavlodar refinery, which was built in 1978, is owned by Refinery Company RT (58%) and the Samruk-Kazyna state fund (42%).

Kazakhstan has three operating oil refineries.

The official exchange rate on September 1 was 147.33 tenge/$1.