Support The Moscow Times!

Corporate Earnings Up

Combined pre-tax earnings at medium and large enterprises soared 37.6 percent in January-February 2011 to 1.262 trillion rubles ($45 billion), from 916.7 billion rubles in the same period of last year, the State Statistics Service said.

Some 34,500 companies made a combined 1.518 trillion rubles in profit, while 20,200 others incurred losses totaling 256 billion rubles.

Companies working in the natural resources sector had combined profits rising 90.6 percent in January-February to 291.8 billion rubles. The utilities sector made 98.3 billion rubles, down 26.3 percent, and the manufacturing sector 309.4 billion rubles, up 66.4 percent from a year previously.

Combined profits rose 39 percent to 358.9 billion rubles in wholesale and retail trade and services; were up 0.2 percent to 162.6 billion rubles in transport and communications; 22.6 percent to 4 billion rubles in construction; 130 percent to 20.2 billion rubles in real estate; and 26.2 percent to 2.8 billion rubles in fisheries.

The share of Russian enterprises that incurred losses was down 0.9 percentage point compared with January-February last year, at 36.9 percent.

… we have a small favor to ask. As you may have heard, The Moscow Times, an independent news source for over 30 years, has been unjustly branded as a "foreign agent" by the Russian government. This blatant attempt to silence our voice is a direct assault on the integrity of journalism and the values we hold dear.

We, the journalists of The Moscow Times, refuse to be silenced. Our commitment to providing accurate and unbiased reporting on Russia remains unshaken. But we need your help to continue our critical mission.

Your support, no matter how small, makes a world of difference. If you can, please support us monthly starting from just $2. It's quick to set up, and you can be confident that you're making a significant impact every month by supporting open, independent journalism. Thank you.

paiment methods
Not ready to support today?
Remind me later.

Read more