Russia's NKNKh, Kazanorgsintez report increased Q1 profit, sales

15 May 2012 16:22  [Source: ICIS news]

MOSCOW (ICIS)--Russia's leading petrochemical producers Nizhnekamskneftekhim (NKNKh) and Kazanorgsintez recorded increased profit and sales in the first quarter of 2012, the companies said on Tuesday.

Between January and March NKNKh reported a net profit of rouble (Rb) 5bn ($167m) – up by nearly 50% year on year, the company said.

NKNKh’s sales reached Rb35bn – up by 16% year on year.

Sales of synthetic rubber amounted to 52% of NKNKh’s total sales, while the company exported more than 95% of its total synthetic rubber volumes produced in the first quarter, according to NKNKh.

Kazanorgsintez’s net profit was up by 70% year on year between January and March, coming in at Rb911m, according to the company.

The company’s sales reached Rb12bn – up by 24% year on year. Sales of high density polyethylene (HDPE) amounted to 51% of Kazanorgsintez’s total sales.

NKNKh and Kazanorgsintez, both based in Tatarstan, central Russia, are two of the country's biggest petrochemical manufacturers.

($1 = Rb30.39)

By: Sergei Blagov
+44 20 8652 3214

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