OJSC Uralcryomash has announced Fiscal 2013 end-of-year financial results of 2.6bn (RUB) compared to 459m (RUB) recorded by the company in the previous comparable term.
Net profit, compared to the corresponding figures for 2012, increased tenfold and amounted to 74.36m (RUB).
In this Fiscal year of 2013 Uralcryomash has already started a large-scale reconstruction program of production upgrading and improving labour working conditions. The amount of investment accounted to 73.44m (RUB), including: 44.64m (RUB) for production upgrading, and 28.8m (RUB) for the improvement of working conditions.
The profits earned will also be directed to the company’s purchasing of new equipment. Moreover, operations to increase the living and social working conditions associated with the company will be continued.
“All these activities will allow Uralcryomash to create higher technology production output over rival innovative products,” said a company spokesman.