Rostsement reports RUB20,000 net profit for 2018

Rostsement reports RUB20,000 net profit for 2018
07 January 2019

Rostsement saw its revenues increase by 25.6 per cent to RUB49.79m (US$738,982) in 2017 when compared with 2016, when the company reported revenues of RUB39.63m. The Russia-based cement producer turned a net loss of RUB2.26m in 2016 to a profit of RUB20,000 by the end of 2018, according to Info-RL.

Cost of goods sold increased by 18.51 per cent to RUB49.09m from RUB41.42m in 2016. Gross profit reached RUB704,000, a considerable improvement on the previous year’s loss of RUB1.79m.

Rostsement is owned by Girda Vyacheslav Nikolaevich, who holds 50 per cent of stock, while Komartsov Igor’ Yur’evich and Malykhin Yuriy Mikhaylovich each hold 25 per cent.

Published under Cement News