RTI net profit plunges 45.57%

The net profit of Ural Plant RTI plunged by 2.759 million RUR, or 45.57% (from 6.055 million RUR in the first quarter of 2009 to 3.296 million RUR in the second quarter).

The enterprise explains their profits dropped due to their customers’ increasing debts for the goods they bought from the plant and for the energy resources consumed. This meant the company had to set up additional bad debt reserves of 19.723 million RUR.