Metafrax Group of Companies Summarized Its Work in the 1st Six Months of 2016

According to IFRS, after 6 months of 2016, the Group’s profit made 21 524 541 thousand roubles that is higher than the value in the same period of 2015 by 720 979 thousand roubles, or 3.5%.

After 6 months of 2016, the gross profit made 7 281 355 thousand roubles, decreasing by 943 922 thousand roubles, or 11.5%, compared to the 1st half of 2015.

From January to June, the group’s volume of investments to the main assets and the unfinished construction made 1 569 543 thousand roubles that is by 249 958 thousand roubles, or 19%, higher than the same period value of the last year.

Armen Garslyan, Metafrax Board of Directors Chairman:

Despite of the difficult economic situation in the world market, in the 1st half of year of 2016, Metafrax Group of Companies managed to increase the profit comparing to the same period of 2015. With this, the gross profit decreased under the external market influence. The export prices decrease was compensated by the sales growth. The production units of the chemical division remain to work with the maximum effective load.

The group of companies does not give up on its investment plans; we continue to grow our investments that were agreed under the Technical Reinforcement, Revamping and Development Program up to 2020.