Motor Sich posts UAH 930 mln net profit in nine months 2020

PJSC Motor Sich (Zaporizhia) received UAH 930.15 million of net profit in January-September 2020, while it completed the same period of 2019 with a net loss of UAH 532.72 million.

According to the interim financial report of Motor Sich, published on Thursday in the information disclosure system of the National Securities and Stock Market Commission, the net income increased by 20.2% to UAH 7.680 billion in the nine months.

The gross profit of the company increased by 56% to UAH 3.196 billion, and from operating activities the company received a profit of UAH 1.675 billion against a loss of UAH 561.67 million previous year.

As reported, in January-June 2020, the company's net profit amounted to UAH 595.56 million against a loss of UAH 428.58 million over the same period last year, and net income increased by 16.3% to UAH 4.729 billion.

Thus, in the third quarter of 2020, PJSC Motor Sich received a net profit of UAH 334.6 million compared to a loss of UAH 104.15 million for the same period of 2019, and net income increased by 27% to UAH 2.951 billion.

PJSC Motor Sich is one of the world's largest manufacturers of engines for aviation equipment, as well as industrial gas turbine units. It supplies products to more than 100 countries around the world.

Source: www.en.interfax.com.ua