In the first half of 2007, Krasnoye Sormovo Shipyard OJSC (Nizhniy Novgorod, Part of MNP group increased its net profit 2.36-fold – to RUR 146.447 million, the company’s official documents read according to NTA-Privolzhie. The Shipyard’s sales proceeds grew 1.9-fold – to RUR 1.777.86 billion with 2.19-fold increase of cost-price – to RUR 1.437.743 billion.
The company’s sales profit climbed 6.05 times (year-on-year) – to RUR 148.433 million, pre-tax profit grew 2.44-fold – to RUR 214.601 million. The company’s accounts receivable fell by 12.15% - to RUR 591.978 million, accounts payable decreased by 27.25% - to RUR 750.962 million.
MNP group (Marine and Oil Projects) is an international company managing projects in shipbuilding and engineering of offshore drilling platforms. MNP Group incorporates the leading Russian shipyards: Krasnoye Sormovo Shipyard (Nizhniy Novgorod), Volgograd Shipyard, as well as Sormovskoye Mashinostroeniye (Nizhniy Novgorod), Volgograd Special Engineering Plant, Volgo-Caspian Design Bureau (Nizhniy Novgorod) and Friede & Goldman (USA).