JSC Dorogobuzh announced today that its RAS revenue for the first nine months of 2007 was up 36.6% year-on-year to RUB 5.375 billion (from RUB 3.935 billion for the same period of 2006). Dorogobuzh is part of the Acron Holding.
Profit on sales reached RUB 1.318 billion, up 87.6% year on year (RUB 703 million for 9M 2006).
Net profit for the accounting period was RUB 566 million, even after figuring in a loss of RUB 391 resulting from a mark-to-market adjustment of financial investments. Thus, net profit before the reevaluation of financial investments more than doubled to RUB 957 million against last year’s RUB 424.
JSC Acron Vice President Alexander Popov said:
“Dorogobuzh is posting excellent results. The introduction of new energy-saving technologies and gradual production modernization allowed Dorogobuzh to increase mineral fertilizers production this year by an average 20%, which is significant growth.
In the accounting period, over half of Dorogobuzh’s mineral fertilizers were supplied to domestic customers under a well-balanced merchandising plan and with strong domestic demand. The company is committed to meeting this demand as a matter of priority.”
Dorogobuzh’s complete RAS statements for the first nine months of 2007 may be found at www.acron.ru/investor_annual.html