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.
