UMPO received 9 billion rubles of net profit under IFRS against loss a year earlier

UFA, 4 May 2016. /Bashinform News Agency, Olesya Seregina/. PJSC "Ufa Engine Industrial Association" (UMPO), including the subsidiaries, received a net profit of 9.04 billion rubles in 2015 against 3.45 billion of net loss in 2014, it follows from the consolidated financial statements under IFRS.

UMPO revenues increased compared to the level of 2014 by 36.2 percent - to 69.86 billion rubles, the cost of sales - by 14.5 percent to 38.66 billion, gross profit - by 78 percent, to 31.2 billion rubles. Operating profit increased by 2.2 times - up to 19.5 billion rubles. Profit before tax amounted to 11.02 billion rubles (in 2014 a loss before tax of 4.07 billion rubles).

Long-term liabilities of the group of companies fell to 16.84 billion rubles from 18.86 billion at the end of 2014. Current liabilities increased to 50.32 billion rubles from 39.52 billion at the end of the previous year.

PJSC "Ufa Engine Industrial Association" (part of the United Engine Building Corporation) is the largest manufacturer of aircraft engines in Russia. The main activities are development, production, maintenance and repair of turbo-jet aircraft engines and gas-pumping units, manufacture and repair of helicopter units.