Red Sormovo reported by RAS

Nizhny Novgorod shipyard "Red Sormovo" (part of the United Shipbuilding Corporation) in 2012 increased net profit under RAS 1.55 times compared with 2011 — up to 503.511 million rubles, the company said in a statement.

The company’s revenue in 2012 increased compared to the year 2011 to 49.76% — up to 7.596 billion rubles, the cost has increased by 47.10% — up to 6.138 billion rubles. Profits from sales of the "Red Sormovo" in 2012 increased 2.84 times in comparison with 2011 — up to 857.457 million rubles, profit before tax — 1.54 times, up to 631.950 million rubles.

Accounts receivable of the company for 2012 was reduced to 4.28 times — up to 168.692 million rubles, accounts receivable decreased to 2.33 times — up to 1.277 billion rubles.

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