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Russian firm NKNK reports declines in sales, profits due to lower rubber prices

7:49 AM MDT | September 3, 2013 | Natasha Alperowicz

Nizhnekamskneftekhim (NKNK; Nizhnekamsk, Russia), a leading petrochemicals and synthetic rubber producer, reports a drop in sales and profits in the first six months of this year, citing lower synthetic rubber prices. Ebitda in the first six months of 2013 was 17% down on the corresponding period last year, at 10.22 billion Russian ruble ($305.7 million), on sales 8% lower, at R62.86 billion. NKNK’s output in the first six months was mostly higher. Synthetic rubbers accounted for 43% of NKNK’s sales, plastics 28%, and other petrochemicals 29%...

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