VSMPO-Avisma’s net profit drops 92.5%
The net profit of VSMPO-Avisma Corporation decreased by 92.5% in the third quarter of 2011, that is, from 1.59bn RUR down to 119.32m RUR.
The company explains this sharp decline in profits has to do with the re-evaluation of the existing currency liabilities necessitated by the growing dollar exchange rate in the third quarter of the year and by the dramatic increase in the dollar price in September 2011.
The company explains this sharp decline in profits has to do with the re-evaluation of the existing currency liabilities necessitated by the growing dollar exchange rate in the third quarter of the year and by the dramatic increase in the dollar price in September 2011.
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