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6-month IFRS net profit of Tulamashzavod dropped 4 times

IFRS net profit of JSC Tulamashzavod for H1 2014 decreased 4 times to RUB 158.686 million from RUB 636.812 million the year before, the company reported.

Revenue decreased by 10.88% to RUB 3.482 billion from RUB 3.907 billion, profit from operations 3.82 times to RUB 151.37 million from RUB 577.648 million, pre-tax profit 3.3-fold to RUB 248.173 million from RUB 818.627 million.

JSC Tulamashzavod is one of the largest enterprises of Russia's military-industrial complex which produces arms for land forces and the Navy. One of Tulamashzavod's core activities is the output of artillery defense systems for various types of vessels: 30-mm gun mounts AK-306, AK-630M and the unique missile-gun CIWS Kashtan. Also, small-caliber artillery systems are among the most demanded arms being mounted on surface ships of all classes ranging from patrol boats to cruiser-carriers. Besides, the enterprise produces a variety of civilian goods.

According to the DataCapital information retrieval system, RAS net profit of JSC Tulamashzavod for H1 2014 decreased 5.06 times to RUB 119.739 million from RUB 605.806 million the year before. Revenue decreased by 14.09% to RUB 2.333 billion from RUB 2.814 billion, sales profit 2.76-fold to RUB 227.465 million from RUB 628.405 million, pre-tax profit 3.98-fold to RUB 195.445 million from RUB 777.161 million.

"AK&M", 27.08.2014 14:48


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