Kazanorgsintez swings to first-half net profit of Rb938m

17 August 2010 15:23  [Source: ICIS news]

MOSCOW (ICIS)--Kazanorgsintez, a leading Russian petrochemical producer, posted a net profit of Roubles (Rb) 938m ($30.7m, €23.9m) for the first six months of 2010, compared with a net loss of Rb1.87bn for the same period last year, the company said on Tuesday.

Kazanorgsintez said its sales for the first six months of the year amounted to Rb17.7bn, up 77% from the same period last year.

Kazanorgsintez said that its net profit and sales increased due to improved market conditions and higher prices in the first half 2010.

The company is based in central Russia’s Tatarstan republic.

($1 = Rb30.52/€1 = Rb39.10)

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By: Sergei Blagov
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