ChelPipe IFRS net profit falls 26% to 4.2 bln rbl Jan–Jun

MOSCOW, Aug 19 (PRIME) -- The net profit of Russia’s Chelyabinsk Pipe-Rolling Plant, or ChelPipe, fell 26% on the year to 4.179 billion rules in January–June, as calculated under International Financial Reporting Standards (IFRS), the company said on Monday.

Revenue from sales decreased 9.6% to 85.84 billion rubles, the gross profit slid 0.8% to 23.288 billion rubles, and the pretax profit dropped 22% to 5.888 billion rubles.

Assets rose 5.8% from January 1 to 150.35 billion rubles as of June 30. Liabilities grew 6.6% to 147.335 billion rubles.

(65.9961 rubles – U.S. $1)

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