The Board of Metafrax summed up the results of the company’s work in 9 months of 2013

On October 31 the Board of JSC Metafrax summed up the results of the company's work From January to September 2013.

During this period Metafrax produced 9,099 million roubles worth of product, which is 1,045 million roubles or 13% more than last year. Operating revenue from product sales, works and services amounted at 9,873 million roubles, which is 1,712 million or 21% higher than the corresponding result of 2012. Exports share was 41.2% (+2% compared to the result of 2012). Production profitability increased to 46.4% (+12.8%).

Methanol production from January to September amounted at 756,000 tons, which is equal to the last year's result. Formalin production was 232,200 tons (+0.1%), urea-formaldehyde concentrate (UFC) - 138,000 tons (-2.2%), pentaerythritol - 16,600 tons (-6.7%).

According to preliminary data net profit of the company from January to September amounted at 2,486 million roubles, which is 813 million or 49% more than last year. Thus, in 9 months the company reached net profit amount of the whole 2012.

Budget of employment benefits reached 128 million roubles, which is 27% more than it was in 2012.

- The growth is connected with price increases of methanol and its derivatives, and also with costs reduction. At the same time our plant has 100% loads for primary production, - said the Chairman of the Board Armen Garslyan.