Russia's Sibur-Neftekhim 2009 net profit nearly halves

26 March 2010 10:13  [Source: ICIS news]

MOSCOW (ICIS news)—Sibur-Neftekhim’s net profit nearly halved last year due to adverse market conditions, the Russian company said Friday.

In 2009, the company’s net profit dropped to Russian roubles (Rb) 64.6m (1.63m) - or 1.9 times down from Rb121.6m in 2008, according to the company’s annual report. Pre-tax profit fell 53.3% year-on-year to Rb117.4m, it said.

Sibur-Neftekhim's sales amounted to Rb7.3bn, down 8.8% year-on-year, the company said.

Based in Dzerzhinsk, Nizhny Novgorod region, Central Russia, Sibur-Neftekhim’s operations include a caprolactam plant, an ethylene oxide plant and a glycol plant in Dzerzhinsk, as well as a petrochemical plant in Kstovo. It is controlled by the country's major petrochemical holding Sibur.

$1 = Rb 29.6, €1 = Rb 39.4

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