Sibur reports lower earnings, higher sales

Sibur (Moscow) reported a 9% decrease in net profits for the first half of 2012 compared with the corresponding period of 2011, to ruble29.7 billion, on sales up 13%, to ruble136.9 billion. Ebitda decreased 5%, to ruble42.6 billion. Quarterly figures were not disclosed. "The decrease in Ebitda is primarily attributable to a reduction in spreads between feedstock and petrochemical prices, a nonrecurring change in treatment of provisions related to staff costs, higher transportation costs, as well as repairs and maintenance expenses," Sibur says. Sibur's...

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