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.