GAZ Group’s RAS net profit soars to 218.9 mln rbl in 2017

MOSCOW, Mar 29 (PRIME) -- The net profit of Russian carmaker GAZ Group almost tripled on the year to 218.9 million rubles in 2017 from 79.9 million rubles in 2016, as calculated under Russian Accounting Standards (RAS), the company said in a report on Thursday.

Revenue went up 3.9% on the year to 21.6 billion rubles in 2017. The gross profit shrank 23.6% to 2.1 billion rubles, while other incomes went up 16.8% to 5.2 billion rubles.

The cost of sales rose 8.1% to 19.5 billion rubles, but administrative costs decreased 0.03% to 1.95 billion rubles. Other expenditures grew 19.4% to 3.2 billion rubles.

Capital and reserves of the company went down 5.1% to 20.6 billion rubles.

Long-term liabilities of GAZ Group fell 5.1% in the year to 46.5 billion rubles as of the end of 2017, while short-term liabilities increased 21.9% to about 10.2 billion rubles.

(57.5598 rubles – U.S. $1)

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