03 June 2004 12:45
AEROFLOT HAS $126.7 MLN IAS NET PROFIT IN 2003
MOSCOW. June 3 (Interfax) - Net profit at OAO Aeroflot - Russian Airlines to international accounting standards
increased to $126.7 million in 2003 from $89.3 million in 2002, company Deputy General Director for Finance and Planning
Mikhail Polboyarinov said.
The company's net profit to Russian accounting standards, expressed in dollars, increased 26.1% from 2002 to
$127.745 million, which was 11.2% more than the target of $114.855 million. At the end of last year Aeroflot forecast
net profit of $120 million in 2003.
Aeroflot revenue in 2003 to Russian standards amounted to $1.586 billion, up from $1.434 billion in 2002. Company
expenditure increased from $1.327 billion in 2002 to $1.478 billion in 2003. Aeroflot sales profit in 2003 amounted to
$107.4 million, up from $106.4 million in 2002.
The state owns 51.17% of Aeroflot shares, National Reserve Bank - about 30%, and private investors - 10.62%.
[Interfax] |
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