Russia's Sibur-Neftekhim ‘08 net profit falls 62% to $3.7m

24 March 2009 10:13  [Source: ICIS news]

MOSCOW (ICIS news)--Russia's Sibur-Neftekhim has reported that its 2008 net profit dropped to roubles (Rb) 121.6m ($3.7m, €2.7m), down from Rb321m in 2007, while pre-tax profit was down over 44% to Rb455m, the company said on Tuesday.

Sibur-Neftekhim said its 2008 sales increased to Rb8.6bn, up 12.5% year on year.

Based in Dzerzhinsk, in central Russia’s Nizhny Novgorod region, Sibur-Neftekhim is controlled by Sibur.

Sibur-Neftekhim’s operations include the Kstovo petrochemical plant, as well as caprolactam, ethylene oxide and glycol facilities in Dzerzhinsk.

($1 = Rb33.20/€1 = Rb45.24)

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