UMPO increased its net profit by 39.4 percent in the first half of the year

Elvira Latypova

JSC "UMPO" for six months increased net profit by 39.4 percent, compared with January-June 2013. During this period it amounted to 1 billion 478 million rubles according to the report of the company made under RAS regulations.

Revenue increased by 14.9 percent - to 18.7 billion rubles. Thus 47.9 percent of total revenue or 8.9 billion rubles are accounted for revenues from supply of products abroad.

Cost of sales in the first half of the year increased by 15.8 percent, to 12 billion rubles. Gross profit was formed in the volume of 6.7 billion rubles, with an increase of 13.4 percent to the first half of 2013. Operating profit was 4.4 billion rubles (plus 27.9 percent), profit before tax - 2.2 billion rubles (plus 41.8 percent).

Long-term liabilities of the company fell from 11 billion rubles to 9.9 billion rubles since the beginning of the year. Current liabilities increased from 32.6 billion rubles to 38.4 billion rubles, including accounts payable increased from 16.5 billion rubles to 20.4 billion rubles. Accounts receivable decreased by 8.3 percent and amounted to 16 billion rubles.

JSC "Ufa Engine Industrial Association" is the Russian largest manufacturer of aircraft engines. It is engaged in development, manufacturing, service and repair of turbojet engines and pumping units, production and repair of helicopters. It is included in the United Engine Corporation — a wholly owned subsidiary of JSC OPK "Oboronprom" on engine assets management.

#umpo #financial results

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