UMPO decreased net profit by 21.6 percent in January-September

UFA, 18 November 2014. /Bashinform News Agency, Elvira Latypova/. JSC "Ufa Engine Industrial Association" (UMPO) received net profit in the amount of 1.6 billion rubles in January-September – by 21.6 percent less than in the same period of 2013, according to the company reporting.

Revenues increased by a quarter - to 29.6 billion rubles, cost of sales – by 22.8 percent to 18.7 billion rubles. Gross profit was 10.8 billion rubles (plus 28.7 percent), profit from sales - 7.2 billion rubles (plus 46.6 percent).

Other revenues increased by 1.6-fold - to 9.8 billion rubles. Thus UMPO significantly increased other spending - from 7.9 to 14.4 billion rubles. The association refused to comment on indicators.

Thus, profit before tax decreased by 18.7 percent and amounted to 2 billion 258.3 million rubles.

Short-term liabilities of the company since the beginning of the year increased from 32.6 billion to 42.4 billion rubles, including borrowings, which amounted to 20.2 billion rubles, payables - 20.7 billion rubles. Long-term liabilities increased from 11 billion to 13 billion rubles. Accounts receivable totaled 19.9 billion rubles (plus 14.4 percent).

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 units. It is included in the United Engine Corporation (UEC) — a wholly owned subsidiary of JSC OPK "Oboronprom" on engine assets management.