ChelPipe swings to 6.9 bln rbl RAS net profit in Jan–Jun

MOSCOW, Jul 27 (PRIME) -- Russia’s Chelyabinsk Pipe-Rolling Plant (ChelPipe) posted a net profit of 6.927 billion rubles in January–June against a net loss of 864.754 million rubles in the same period of 2017, as calculated under Russian Accounting Standards (RAS), the company said in a report on Friday.

Revenue increased 33% to 71.921 billion rubles. The company posted a 7.862 billion ruble pretax profit after an 856.197 million ruble pretax loss in the same period of 2017.

Long-term liabilities decreased to 48.002 billion rubles as of June 30 from 49.955 billion rubles of the end of 2017, while short-term liabilities fell to 35.163 billion rubles from 46.301 billion rubles.

(63.0836 rubles – U.S. $1)

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