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Russia's leading petrochemical company reported Tuesday that net profits in 2005 had fallen 21.6% year on year to $204 million
Russia's leading petrochemical company reported Tuesday that net profits in 2005 had fallen 21.6% year on year to $204 million, according to Russian Accounting Standards (RAS). The Siberian-Ural Petrochemical and Gas Company's (Sibur) gross profits grew 37% to $840 million in 2005, the company said in a statement. Sibur, a subsidiary of Russian energy giant Gazprom, said sales had grown 16% year on year to $3.58 billion, whereas sales revenues had jumped 45.5% to about $600 million. In February 2005, Gazprom, which owns about 100% of the company's shares, announced it would reorganize Sibur into a new entity, Sibur Holding, as the final step in "the petrochemical business reorganization." The transition was completed last year. In a separate statement, Sibur Holding also reported its figures for 2005, with gross and net profits of $83 million and $66 million, respectively, and sales and sales revenue at $448 million and $70 million, respectively. Sibur Holding is a vertically integrated company that controls the country's entire gas-processing and gas-chemical industry, producing more than 100 petrochemical products.
Print Russia's leading petrochemical company reported Tuesday that net profits in 2005 had fallen 21.6% year on year to $204 million Bookmark Russia's leading petrochemical company reported Tuesday that net profits in 2005 had fallen 21.6% year on year to $204 million

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