RUSSNEFT Q1 2019 NET PROFIT (RAS) GOES UP 1.5-FOLD TO RUB4.4 BILLION

23.04.2019 Interfax

RussNeft Q1 2019 net profit amounted to RUB4.4 billion (a 1.5-fold YoY increase), as reflected in the report of the Company.

The revenue grew by 17% to RUB44.8 billion. Cost of sales increased by 13% to RUB34 billion while gross profit rose by 30% to RUB10.7 billion. Sales profit showed a 1.6-fold increase to RUB7.7 billion, pre-tax profit demonstrated a RUB5.8 billion increase.

Accounts receivable at the end of the quarter was slightly up to RUB43.068 billion while accounts payable grew from RUB66.9 billion at year-end 2018 to RUB73.6 billion at Q1-end.

RussNeft has provided an update on its forest restoration efforts in Siberia.

The company announced that it will expand its reforestation activities by an additional 171 hectares in 2026. Since 2017, RussNeft has planted over 3,272,000 saplings across 875 hectares. Furthermore, the company has carried out silvicultural maintenance—including care for both previously planted and newly planted trees—covering an area of 264 hectares.

RussNeft Announces Support for Regional Social Development

PJSC “RussNeft” continues to assist educational institutions serving children with disabilities.

RussMeft Supports Sports Tournaments in the Regions

PJSC “RussNeft” continues to support regional sports initiatives. In the Khanty-Mansi Autonomous Okrug – Yugra, the Company supported the Open Boxing Championship for the Nizhnevartovsky District Head’s Cup.

RUSSNEFT Q1 2019 NET PROFIT (RAS) GOES UP 1.5-FOLD TO RUB4.4 BILLION

More news

RussNeft has provided an update on its forest restoration efforts in Siberia.

RussNeft Announces Support for Regional Social Development

RussMeft Supports Sports Tournaments in the Regions