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)
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