In 2014, Kuzbass fuel company reduced its profit under IAS 91 times
Edited by Rhod Mackenzie / 2015-04-03 12:23:30
In 2014, net profit of Kuzbass fuel company under IAS amounted to 7 million rubles, which is 91 times less than in 2013 (640 million), the company reports.
The main factors that have influenced the results became negative exchange rate differences, the increase in provisions for doubtful debts and lower prices on the Asian market.
The proceeds decreased by 1% to 22.250 billion rubles, operating profit - by 1% to 1.374 billion rubles. The prime cost of production was 18.925 billion (- 3%), production cash cost - 577 rubles per ton of coal (- 6%). The gross profit increased by 12% to 3.325 billion rubles, the rate of EBITDA by 4% to $2.518 billion.
