Net profit of Baltijskyi Zavod OJSC grew for the first half of 2006 by a factor of 3.9 amounting to 654.55 million rubles
Net profit of Baltijskyi Zavod OJSC grew for the first half of 2006 by a factor of 3.9 year-on-year amounting to 654.548 million rubles 654,548, the company’s statement says. Profit before tax has increased by a factor of 3.9 amounting to 938,54 million rubles. Sales profit grew by a factor of 3.5 amounting to 173.12 million rubles. Gross profit amounted to 185.954 million rubles against 51.655 million rubles year-on-year. Company’s revenue doubled amounting to 607.888 million rubles.
Baltijskyi Zavod OJSC specializes on construction of military ships of different classes as well as vessels with nuclear propulsion systems. Priority business of commercial shipbuilding is construction of large tankers for oil and gas transportation from the region of northern seas, chemical tankers, icebreakers, vessels for transportation of general cargo and high-tech supply vessels. Today the company’s backlog of orders till 2009 exceeds $600 million. The share of military contracts amounts to $30 million. In august 2005 EAST group sold 88.2% of shares in Baltijskyi Zavod OJSC to a Unified Industrial Corporation. Authorized capital of Baltijskyi Zavod OJSC amounts to 264 million 440 thou 000 rubles divided into 1 million 100 thou 000 ordinary shares with nominal value of 240 rubles 40 kopeks each.