The volume of proceeds from sales of low-pressure polyethylene (HDPE) of Kazanorgsintez (CBS, part of the TAIF group) in the first half of 2017 decreased by 12% to 17.7 million rubles, RBC reported citing the company’s statements.
A year earlier, this figure was 20.1 million rubles. In the company’s financial report, the reason for the decline in sales is called the fall in sales prices.
Revenues from sales of polycarbonates in the first half of 2017 amounted to 5.2 million rubles, which was at the level of the same period last year.
The market value of shares of Kazanorgsintez in the first half of 2017 increased from 77.6 to 113.8 billion rubles, despite the reduction in the production of polyethylene (PE) and the drop in net profit.
Earlier it was reported that the net profit of Kazanorgsintez in the first half of 2017 amounted to 8.3 billion rubles, a year earlier it was 11.7 billion rubles. The company’s revenue decreased from 38.4 billion to 36.8 billion rubles, the cost of sales increased from 20.8 billion rubles to 22.8 billion rubles.
Net profit of CBS under RAS standards in the first quarter of 2017 decreased by 32.2% compared to the same quarter last year – to 4.39 billion rubles., Revenue for the company in January-March decreased by 4.4% to 19.26 Billion rubles. The cost of sales amounted to 11.72 billion rubles. Against 10.63 billion rubles. A year earlier.
PJSC “Kazanorgsintez” is one of the largest enterprises of the Russian Federation (“TAIF” Group of Companies). It produces more than 38% of all Russian polyethylene and is its largest exporter. At present, polyethylene, polycarbonate, polyethylene pipes, phenol, acetone, bisphenol A. are produced. KOS is the only Russian manufacturer of polycarbonates. A total of 170 types of products.