Russia’s Sibirsky Cement swings to 2010 loss

Russia’s Sibirsky Cement swings to 2010 loss
Published: 18 May 2011

Russian holding company Sibirsky Cement swung to a net loss of RUB69.6m (US$2.5m)  in 2010 against a net profit of RUB6.9m in 2009, the company said in a statement Tuesday.

Sibirsky Cement’s revenue rose 14.3% on the year to RUB887.5m in 2010, the gross profit was up 14.8% on the year to RUB831.6m, while the operating profit fell 21.3% on the year to RUB315.1m. The company posted a pretax loss of RUB47.8m in 2010 compared to a pre-tax profit of RUB34.0m in 2009.

However, for the first four months of 2011,
Sibirsky reported an increase in cement output of 31.3% YoY to 796,900t. Cement sales amounted to 791,300t during January-April 2011, up 33% on the year.