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Sibur Reports Increased Sales and Net Profits for 2011

11:23 AM MDT | May 3, 2012 | Sotirios Frantzanas

Sibur (Moscow) says sales for full-year 2011 increased 31.9%, to approximately 249 billion roubles ($8.5 billion). Net profits and Ebit also increased 54.2% and 51.4% in 2011, to approximately 63 billion roubles and 78 billion roubles compared with 41 billion roubles and 52 billion roubles in 2010, respectively, the company says. Quarterly figures were not disclosed. The growth is attributed to "higher production volumes, positive demand trends, and a strong pricing environment for both energy and petrochemical products," and the company's own efforts...

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