Ukrspyrt's profit comes to UAH 200 mln in nine months - acting head
KYIV. Oct 7 (Interfax-Ukraine) – The preliminary profit of Ukrspyrt in the first nine months of 2015 amounted to UAH 200 million against a loss of UAH 550 million in 2014, Ukrspyrt Acting Director Roman Ivaniuk has said.
"Our financial result for the first six months [of the year] amounted to UAH 96 million, i.e. for the third quarter Ukrspyrt earned more than UAH 100 million. This must be the minimum benchmark to focus on for the state and future leaders," he said at a press conference at Interfax-Ukraine.
He said the net profit margin was 15% against 5% in the best of times.
Total operational expenses for the first nine months of 2015 amounted to UAH 100 million against UAH 285 million in 2014.
The entirety of the profit was used to repay debts. Ukrspyrt repaid UAH 280 million, of which UAH 75 million was spent on a loan, UAH 102 million was given to the state budget, and more than UAH 10 million was sent to suppliers.
According to the acting head, the company now has only 5% of 100% overdue debts.
Ivaniuk noted the debt for grain is about UAH 50 million and this is the major operating debt. The rest is the debt is owed to the budget on penalties and fines and this issue needs to be solved at the state level, he stressed.