Motor Sich posts 70.6% fall in consolidated net profit in Q1, 2016
PJSC Motor Sich (Zaporizhia) in January-March 2016 saw consolidated net profit under International Financial Reporting Standards (IFRS) fall by 70.6%, compared to the same period in 2015, to UAH 304.666 million, the company reported in the information disclosure system of the National Commission on Securities and the Stock Market.
The net income of Motor Sich decreased by 30.67% in the first quarter, to UAH 2.100 billion, gross profit by 20.42%, to UAH 1.352 billion, consolidated operating profit by 59.87%, to UAH 524.11 million.
Motor Sich is one of the world's largest manufacturers of engines for aircraft and industrial gas turbines. It supplies products to 106 countries around the world.