Motor Sich sees 78.3% rise in consolidated net profit in H1 2017
Public joint-stock company Motor Sich (Zaporizhia) in January-June 2017 saw a 78.3% rise in consolidated net profit under international financial reporting standards (IFRS), to UAH 2.288 billion, the company has reported in the information disclosure system of the National Commission for Securities and the Stock Market.
Consolidated net revenue grew by 34.7%, to UAH 6.819 billion. The cash cost of products grew by 62.6%, to UAH 2.945 billion. Consolidated gross profit increased by 19.1%, to UAH 3.874 billion.
Consolidated operating profit of Motor Sich soared by 49.2% in H1 2017, to UAH 2.575 billion.
In January-March 2017, Motor Sich saw a 4.5-fold rise in consolidated net profit under IFRS year-over-year, to UAH 1.457 billion, consolidated net revenue grew by 63.4%, to UAH 3.431 billion and consolidated gross profit by 46.3%, to UAH 1.978 billion, and the company saw a 2.9-fold rise in consolidated operating profit, to UAH 1.525 billion.
Motor Sich is one of the world's largest manufacturers of engines for aircraft, as well as industrial gas turbine equipment. It ships commodities to more than 100 countries.