Russia's Nizhnekamskneftekhim records nine-month profit of €146m

01 November 2010 16:40  [Source: ICIS news]

MOSCOW (ICIS)--Russian petrochemical producer Nizhnekamskneftekhim (NKNKh) reported a net profit of roubles (Rb) 6.30bn (€146m, $204m) for the first nine months of 2010, the company said on Monday.

This compared with a net profit of Rb732m for the same period in 2009, NKNKh said.

Another leading Russian petrochemical producer, Kazanorgsintez, released its profit figures for January-September 2010 on 29 October.

Kazanorgsintez, based in Tatarstan in central Russia, recorded a net profit of Rb1.54bn for January-September 2010, compared with a net loss of Rb1.54bn for the same period last year, the company said.

Both companies said that profits were up due to improved market conditions and higher prices in the first half of 2010.

(€1 = Rb43.07, $1 = Rb30.85)

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By: Sergei Blagov
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