CEO: USC expects IFRS net profit flat on year in 2019

MOSCOW, Nov 26 (PRIME) -- Russia’s United Shipbuilding Corporation (USC) expects its net profit calculated under International Financial Reporting Standards (IFRS) to remain flat on the year in 2019, CEO Alexei Rakhmanov told reporters on Tuesday.

“In absolute terms, it will not differ noticeably from the results of 2018, but we will see by how much when we close it…The scale of figures will be almost the same,” Rakhmanov said.

The company’s net profit plummeted by 62% on the year to 2.217 billion rubles in 2018.

He also said that the company planned to sign U.S. $250 million of contracts for construction of about 10 crab-fishing ships.

(63.7637 rubles – U.S. $1)

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