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Loss of Leningradslanets (RAS) increased by 16.15% in H1.

The net loss of OJSC Leningradslanets (RAS) in the first half year 2011 increased by 16.15% to 202.997 million Rub. from 174.758 million Rub. for the same period of 2010, the company reported.

The revenue of the enterprise decreased by 0.56% to 37.131 million Rub. from 37.343 million Rub., the sales loss increased by 37.78% to 40.917 million Rub. from 29.697 million Rub.

Leningradslanets established in 1934 produces combustible shale, Leningrad sort slate and rubble. The enterprise intends to ramp up the shale production to 8-9 million tpa within the next 5 years.

The major shareholder of the company is Renova group. It owns more than 80% of shares of the enterprise. The remaining stock is shared by minority shareholders including the management of the enterprise. The authorized capital as of December 31, 2008 is 194.3 thousand Rub. represented by 145,728 common and 48,576 preferred shares at par value of 1 Rub.

"AK&M", 05/09/2011


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