Incomes of Severnaya Verf shipyard reduced on 9.5% in 2010

17.08.2010 Net revenue from sales and services of JSC Severnaya Verf shipyard (member of United Industrial Corporation) in Jan-June 2010 has decreased on 9.5% comparing to analogous period of 2009 down to 3,985,326,000 RUR, says the shipyard's quarterly report.

Primecost of output sold in accounting period grew up on 14% up to 3,870,686,000 RUR. Book loss grew up on 11.2% up to 671,025,000 RUR; gross profit dropped 8.8 times down to 114,640,000 RUR. The company's creditor indebtedness in 2010 grew up on 22.8% up to 21,864,000,000 RUR; long-term receivables increased 1.9 times up to 761,816,000 RUR; short-term receivables grew up on 42.3% up to 14,666,820,000 RUR.

As was previously reported by PRIME-TASS, in Jan-June 2010 Severnaya Verf shipyard has increased its net loss 2.87 times (up to 560,371,000 RUR) comparing to same period of 2009.

Currently, the following vessels are under construction at Severnaya Verf for Russian Navy: 3 corvettes, 2 frigates, and special communications ship. In 2007 JSC Severnaya Verf undertook foreign orders on repair and modernization of four Algerian frigates (Project 1159T and 1234E). 72.19% of the shipyard's shares are held by United Shipbuilding Corporation; government controls 20.96% of shares.