Raspadskaya closes half year in the red
Edited by Rhod Mackenzie / 2014-08-21 08:32:51
OJSC “Raspadskaya” has closed the first half of the year with negative result of its gross profit at $1.376 million against $56.676 million a year ago. It is said in the unaudited consolidated report of the company in H1 under IAS.
The loss is mainly due to fixed asset retirement (-$1.376 mln) and devaluation of assets (-$0.893 mln).
Because of exchange rate differences the loss before tax made up $83.434 million.
The revenue of OJSC “Raspadskaya” from sales of products went down by 18.5% to $241.243 million in H1, 2014 from $295.925 million in January-June 2013.
98% of the revenue of the company falls on coking coal sales.
