Support The Moscow Times!

Corporate Revenues Up 22%

Combined pre-tax earnings at medium and large enterprises in Russia soared 22.4 percent year on year in January-October 2011 to 6.17 trillion rubles ($195.48 billion), Interfax reported Thursday, citing the State Statistics Service. 

Some 38,400 enterprises made a combined 7.09 trillion rubles in profit, while 16,700 others incurred losses totaling 912.6 billion rubles. 

Companies working in the natural resources extraction sector had combined profits rising 53 percent in January-October to 1.61 trillion rubles, and the manufacturing sector made 1.63 trillion rubles, up 24 percent from a year ago. Profits rose 16 percent to 734 billion rubles in transport and communications; fell 42.7 percent to 142.4 billion rubles in real estate; and grew 43.7 percent to 88.4 billion rubles in agriculture.

In wholesale and retail trade, automotive transport maintenance, motorcycles, household goods and personal items, combined profits rose 44 percent to 1.6 trillion rubles.

(MT)

Read more

The need for honest and objective information on Russia is more relevant now than ever before!

To keep our newsroom in Moscow running, we need your support.