Sales revenues at CJSC EuroCement Group, Russia’s biggest cement-maker, continued to fall last year.
The company’s best year was 2007, when it earned RUB37bn in net profits and made RUB76.6bn in sales revenues to Russian Accounting Standards (RAS). In 2008, notable for Russian construction market cave-in amid the economic crisis, Eurocement’s sales revenues fell to RUB62.4 bn, and instead of profits the company incurred RUB6bn in losses.
According to the SPARK database, the group was back in the black last year, though its RUB780m in profits were not large by the yardsticks of previous years. Sales revenues were down more than 41% at RUB36bn.
Source: Russia & CIS Business and Financial Newswire