Nizhnekamskshina Increases Net Profit 57 per cent

Nizhnekamskshina’s first quarter net profit (RAS) rose 57 per cent to 13.695 million rubles (about £270,000) from 8.71 million rubles the previous, the company told Russian news sources. Revenues increased 12.4 per cent to 1.498 billion rubles from 1.333 billion rubles. Meanwhile gross profits were up 10.3 per cent to 114.142 million rubles from 103.44 million. 2006 net profits rose to 175.845 million against 51.2 million rubles of losses the year before. Revenues grew three-fold to 14.919 billion rubles from 5.425 billion.

Nizhnekamskshina is ranked as the third by the tyre output in Russia after Sibur Russian Tyres and Amtel Vredestein. The company is expected to produce 12 million tyres in 2007.