Press center menu
Atomredmetzoloto Net Profit Increased by 44% at Year-End 2016 as per RAS
Atomredmetzoloto JSC published its annual accounting (financial) statements for 2016 pursuant to the Russian Accounting Standards (RAS).
Last year, the company’s revenue increased by 4% to RUR 18.1 billion, pretax profit – by 35% to RUR 4.3 billion and net profit – by 44% to RUR 3.7 billion.
Vladimir Verkhovtsev, Director General, commented as follows: “2016 was a difficult year for the entire uranium mining industry, but, nevertheless, the holding company was able to improve its key financial indicators and demonstrate net profit growth. It became possible thanks to a large-scale cost-reduction and improved efficiency programme implemented despite the hostile environment at the world uranium market. In 2017, the management will go on working to reduce costs and seek new business development opportunities”.