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.

Read more

Independent journalism isn’t dead. You can help keep it alive.

The Moscow Times’ team of journalists has been first with the big stories on the coronavirus crisis in Russia since day one. Our exclusives and on-the-ground reporting are being read and shared by many high-profile journalists.

We wouldn’t be able to produce this crucial journalism without the support of our loyal readers. Please consider making a donation to The Moscow Times to help us continue covering this historic time in the world’s largest country.