August 22, 2012

Acron's H1 profit slightly down to US$205.5 million

On Tuesday (Aug 21), Russia's Acron posted its first half net profit of RUB6.59 billion (US$205.5 million), down slightly from a year ago.

It gave no reason for the fall from RUB6.77 billion (US$213 million) a year ago. Revenues were up 18% to RUB35.27 billion (US$1.1 billion) spurred by a 7% rise in output, it said.

Privately owned Acron, with assets and projects in Russia, China, Canada and Estonia, also holds a minority stake in Poland's top chemical maker Tarnow.

It wanted to take over state-controlled Tarnow, but the Polish treasury ministry blocked the move by merging Tarnow with its local rival Pulawy.