Power Machines RAS net loss widens 80% to 3.6 bln rbl Jan–Sep

MOSCOW, Nov 2 (PRIME) -- The net loss of power engineering company Power Machines widened by about 80% on the year to 3.6 billion rubles in January–September, as calculated under Russian Accounting Standards (RAS), as seen by PRIME in materials of the company on Thursday.

Revenue fell 6.4% on the year to 31.6 billion rubles in the period. The gross profit plummeted about 50% to 2.85 billion rubles. The sales loss stood at 919.4 million rubles against a 2.86 billion ruble sale profit a year ago.

The cost of sales went up 3% to 28.7 billion rubles, and selling costs rose about 40% to 2.3 billion rubles. Administrative costs increased 14.1% to 1.5 billion rubles.

Long-term liabilities of Power Machines grew 40% in the period to 62.6 billion rubles as of the end of September. Short-term liabilities fell 6.5% to 70.9 billion rubles.

(58.1557 rubles – U.S. $1)

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