Volga and Turinskiy pulpmills reported increased sales, but declined net profit in January-September 2012

Yekaterinburg-Nizhniy Novgorod, November 30. Large Russian forest industry companies continue to publish quarterly reports. Turinskiy pulpmill (Sverdlovsk region) reported growth of sales by 2.7% year-on-year to 863.6 million Rubles (€21.6 million). Net profit, however, declined by 41.2% down to 20.65 million Rubles (€0.51 million).

Sales of Volga newsprint mill (Nizhniy Novgorod region) amounted to 7.88 billion Rubles (€197 million), which is 10.8% higher year-on-year. Mill’s net profit, however, also fell (2.6 times down to 21.19 million Rubles – €0.53 million).