Russia's Kalina sees IFRS earnings tumble 20.5% in H1
YEKATERINBURG. Aug 14 (Interfax) - Kalina Concern , one of Russia's largest producers of cosmetics and personal hygiene products, saw net profit under International Financial Reporting Standards (IFRS) decline 20.5% to 258.612 million rubles in the first half of 2009 compared to the same period of 2008, the company said in a statement.
Sales revenue rose 24.3% to 6.793 billion rubles in the half.
Key financial highlights of Kalina Concern ('000 rubles):
|H1 2009||H1 2008|
|Sales revenue||6 792 799||5 464 820|
|Costs||3 564 570||2 608 642|
|Gross profit||3 228 229||2 856 178|
|Pre-tax profit||337 162||466 697|
|Net profit||258 612||325 525|
The company said earlier that net profit under Russian accounting standards (RAS) fell 27.1% to 155.685 million rubles in the first half of 2009. RAS sales revenue rose 12.5% to 4.827 billion rubles in the period, while gross profit increased 11.4% to 2.625 billion rubles.
Kalina Concern comprises a detergents plant in Omsk and the subsidiaries Pallada-Ukraina, Novoplast (Yekaterinburg), Kalina Overseas Holding B.V. (Netherlands) and Kalina International SA (Switzerland). The concern also owns a controlling interest in the German cosmetics producer Dr. Scheller Cosmetics AG.