Novorossiysk Grain Plant IFRS net profit plummets 75% in Jan–Jun

MOSCOW, Aug 26 (PRIME) -- The net profit attributable to shareholders of Novorossiysk Grain Plant, one of Russia’s largest grain terminals, plummeted by about 75.6% on the year to 343.695 million rubles in January–June, as calculated under International Financial Reporting Standards (IFRS), the company said in a report on Monday.

Revenue fell by about 37.5% on the year to 3.198 billion rubles in the period, and the gross profit shrank by 46.9% to 1.075 billion rubles. Operating profit plummeted by about 65.5% to 615 million rubles, and cost of sales decreased 28.9% to 2.122 billion rubles.

Long-term liabilities of Novorossiysk Grain Plant decreased 3.2% in the period to 3.264 billion rubles, while short-term liabilities contracted 3.7% to 2.399 billion rubles.

(65.6046 rubles – U.S. $1)

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