Power Machines OJSC declared its 9M 2010 financial outcome in accordance with RAS

Ноября 09, 2010

Power Machines OJSC made its accounting statements for the nine-month period of 2010 in accordance with Russian Accountancy Standards (RAS).

In 9M 2010, the company’s net profit totalled RUR 4.146 bln, an increase of 7% as compared to RUR 3.890 bln in 2009.
The 9M 2010 revenue amounted to RUR 29.153 bln, which is 16% less than in 2009. At the same time, the 9M 2010 gross profit of RUR 10.041 bln exceeded the 2009 figure by 16%. Profit on sales grew by 14% against the 2009 level to reach RUR 6.044 bln. In 9M 2010, the company’s net profit totalled RUR 4.146 bln, an increase of 7% as compared to RUR 3.890 bln in 2009.
Power Machines’ financial statements reflect positive dynamics of the company’s main performance indicators which is due to the implementation of a comprehensive program to lower costs, minimize production expenditures, and optimize procurement practices.