Statistics Committee Releases Data On Companies' Financial Results

The balanced financial result (profits minus losses) achieved by Russia's companies and organizations in January-August 2001 reached 752.9 billion rubles in current prices, or $26 billion, (in the first 8 months of 2000 the balanced financial result reached 789.9 billion rubles, or $27.9 billion). The State Statistics Committee of Russia reports that 53,600 organizations (not including small businesses, agricultural enterprises and organizations, banks, insurance companies, and government organizations) derived profits of 855.4 billion rubles (about $29 billion) in the first 8 months of 2001; 31,700 organizations suffered losses of 102.5 billion rubles (about $3.48 billion). The industry was the only sector where the balanced financial result in January-August 2001 was less than that of the corresponding period of 2000. The most substantial increase in the financial result was reported in tourism (by 2.3 times), communications, and construction (136.8% and 120.5% respectively). The largest percentage of profitable enterprises and organizations was reported in the communications sector, as well as in the trade sector and the catering industry, 76% and 73.2% respectively. The highest percentage of unprofitable enterprises was reported in the public utilities sector and the transport industry, 63% and 43.1% respectively.

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