OREANDA-NEWS. November 08, 2010. Power Machines OJSC made its accounting statements for the nine-month period of 2010 in accordance with Russian Accountancy Standards (RAS). In 9M 2010, the company’s net profit totalled RUR 4.146 bln, an increase of 7% as compared to RUR 3.890 bln in 2009.

The 9M 2010 revenue amounted to RUR 29.153 bln, which is 16% less than in 2009. At the same time, the 9M 2010 gross profit of RUR 10.041 bln exceeded the 2009 figure by 16%. Profit on sales grew by 14% against the 2009 level to reach RUR 6.044 bln. In 9M 2010, the company’s net profit totalled RUR 4.146 bln, an increase of 7% as compared to RUR 3.890 bln in 2009.

Power Machines’ financial statements reflect positive dynamics of the company’s main performance indicators which is due to the implementation of a comprehensive program to lower costs, minimize production expenditures, and optimize procurement practices.

Financial Statements of Power Machines OJSC for the 9M 2010 in accordance with RAS.

 Indicator   The 2010 accounting period,
  thsd RUR		  The same period in 2009,
 thsd RUR 		 Deviation,
 in %
 Revenue  29 153 261  34 521 156   84%
 Production cost   (19 112 340)  (25 898 346)   74%
 Gross profit  10 040 921   8 622 810   116%
 Profit (loss) on sales  6 043 774   5 291 234   114%
 Net profit (loss)   4 146 075   3 890 370  107%