OREANDA-NEWS. August 19, 2013. In the 1st half of 2013, net profit Russian logging company Tyndales (Tynda, Amursk region, Russia) grew by 9.6 times to 460.11 million rubles (USD14 million) year-on year, the company said in the statement.

This record growth was due to non-operational income. In January-June of 2013, other operating income increased in 3,7 times up to 460,11 million rubles (USD 14 million) year-on-year.

The company's revenue for the period decreased by 27.6% to 106.43 million rubles (USD 3 million) compared to the 1st half of 2012 of 147,06 million rubles (USD 4.4 million).

Sales proceeds decreased by 34.2% to 5,37 million rubles (USD 0.2 million), compared to January-June 2012 of 8,16 million rubles (USD 0.2 million).

Most products of Tyndales are exported to China, and according to the company the main competitors on the market are suppliers of saw log from Canada and New Zealand. International competition is intensifying, which is reflected in the fall in prices for products of Tyndales.