The Antonov state aircraft manufacturing enterprise (Kyiv) increased its net profit 29.5-fold to UAH 848.2 million in the period of January-September 2018 (based on the Ukrainian Accounting Standards), compared with the corresponding period of 2017, the Interfax Ukraine news agency reports.
The company’s net revenue increased by 44.68% to UAH 5.407 billion in the first nine months of 2018.
According data from Antonov, its net profit increased 24.8-fold to UAH 564 million and its net revenue increased by 49.6% to UAH 3.324 billion in the first half of this year (based on the Ukrainian Accounting Standards), compared with the corresponding period of 2017.
The company attributed its improved financial performance to an increase in orders and an increase in revenues from provision of non-irregular air transport services by Antonov Airlines, its structural division. In addition, an increase in the volume of R&D and serial production of spare parts for aircraft had a positive effect on its financial performance.
As reported earlier, Antonov’s net profit increased 1.9-fold to UAH 330.22 million and its net revenue increased by 66.4% to UAH 6.052 billion in 2017 (based on the Ukrainian Accounting Standards), compared with 2016.