Motor Sich posts 26% fall in consolidated net profit in nine months
PJSC Motor Sich (Zaporizhia) in January-September 2016 decreased consolidated net profit under international financial reporting standards (IFRS) by 25.72% compared to the same period in 2015, to UAH 1.884 billion.
According to a company report posted in the information disclosure system of the National Commission on Securities and the Stock Market, its consolidated net income for the reporting period decreased by 28.28%, to UAH 7.536 billion.
According to the company, in January-June 2016 it saw UAH 1.284 billion of consolidated net profit under IFRS, which is 19.27% less than in the same period of 2015. Its consolidated net income fell by 26.82% during the first six months, to UAH 5.063 billion.
Motor Sich is one of the world's largest manufacturers of engines for aircraft, as well as industrial gas turbines. It supplies products to more than 100 countries.