Motor Sich sees 2.37 times rise in net profit in 2015 –tentative data

12:56, 19.02.2016 1 min read

Public joint-stock company Motor Sich (Zaporizhia) saw a rise of 2.37 times in net profit in 2015 under international financial reporting standards (IFRS), to UAH 3.67 billion, according to tentative data presented in a company report on holding a general meeting of the company's shareholders scheduled for March 24.

Total assets rose by 29.4%, to UAH 20.748 billion.

In the assets inventories grew by 50.3%, to UAH 10.246 billion, total bills receivable was up by 8.6%, to UAH 2.714 billion, cash and equivalents expanded by 51.5%, to UAH 1.24 billion, while long-term financial investment narrowed by 17.7%, to UAH 170.799 million.

In liabilities undistributed profit rose by 36.4%, to UAH 13.563 billion, equity capital – by 34.4%, to UAH 14.71 billion, current liabilities – by 46.4%, to UAH 4.822 billion, while long-term liabilities fell by 32.3%, to UAH 1.216 billion.

Motor Sich is one of the world's largest manufacturers of aircraft engines, as well as industrial gas turbines. It supplies products to 106 countries.