Pre-tax profit of metallurgical companies rose by more than 1.5 times

​The metallurgical companies of the Ukraine in Q1 2015 increased pre-tax profit by 65.4% against Q1 2014 to 21 bln grivna from 12.7 bln grivna.

In Q1 2015 the financial results from operational activity was positive and made up 6.5 bln grivna against “minus” 1.5 bln grivna in Q1 2014.

But due to the loss from the exchange rate at the reassessment of loans in foreign currency and interest, a negative pre-tax financial result arose, CEO of Metallurgprom, A. Zrazhevsky said.

According to him, the net profit from sales rose by 7.6 bln grivna or 21% to 43.7 bln grivna against Q1 2014. The accounts receivable of metallurgical companies rose by 19 bln grivna to 78 bln grivna. The credit indebtedness taking into account short-term and long-term loans and other long-term obligations rose by 64 bln grivna against Q1 2014 and as of April 1st 2015 reached 194 bln grivna.

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