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Sibur reports decline in first-quarter revenues on lower rubber demand

7:14 AM MDT | June 18, 2013 | Natasha Alperowicz

Sibur (Moscow), Russia’s largest integrated petrochemicals company, today reported a 26% decline in net profit, to 15.6 billion Russian rubles ($490.7 million), on 7.6% lower revenues, of R66.2 billion. Sales were down because of lower demand for synthetic rubbers and the divestment of the company’s fertilizer business, which Sibur sold at the end of 2011. These factors were only partially compensated for the by solid performance of Sibur’s energy product group and increases in revenue from sales of plastics and organic synthesis...

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