MOSCOW, May 22 (RIA Novosti) - Sibur Holding, Russia's largest petrochemicals company, said on Thursday its net profit calculated to Russian Accounting Reporting Standards increased 41.6% year-on-year in the first quarter to 6.48 billion rubles ($270 million).
Sibur Holding, which was established in December 2005, said its revenue in the reporting period grew 6% to 33.5 billion rubles ($1.4 billion), pre-tax profit climbed 43.3% to 8.54 billion rubles ($358 million) and gross profit was up 37% to 10.73 billion rubles ($450 million).
The company's production costs decreased 4.2% in the reporting period to 22.8 billion rubles ($958 million).
SIBUR Holding integrates 34 plants and subsidiaries producing over 100 petrochemical products and is controlled by Russian energy giant Gazprom.
