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Antonov State Enterprise sees 85% increase in net profit in 2017

The corporation experienced a 4.1-fold rise in net profit under Ukrainian accounting standards in 2016.
18:38, 19 March 2018

gazprom.ru

The Kyiv-based Antonov State Enterprise saw an 85.43% increase in net profit in 2017 under Ukrainian standards. The corporation’s net profit in the previous year reached $12.5 million, according to a financial report published on the firm’s website, Interfax-Ukraine reports.

At the same time, the corporation’s net revenue climbed 66.4% during the reported period to reach $228 million.

Related: Ukrainian 'Antonov' renews work with Russian company

Antonov State Enterprise is Ukraine’s prominent developer and manufacturer of aircraft, it is recognized throughout the world as a top producer of transport aircraft. The enterprise cooperates with businesses from over 75 nations of the world. In April 2015, the Ukrainian government decided to make Antonov State Enterprise part of the Ukroboronprom State Consortium.

According to the company, it experienced a 4.1-fold rise in net profit in 2016. As the result of that year, the corporation’s net profit stood at $6.7 million. At the same time, the company’s net revenue declined by a mere 0.16% over 2016 to reach $137.2 million.

Related: Antonov to build three aircraft An-148 for Defense Ministry

Antonov is the leading Ukrainian developer and manufacturer of aircraft, a recognized world leader in the niche of transport aircraft. The enterprise cooperates with more than 75 countries. By the decision of the government, the enterprise has been part of the Ukroboronprom State Consortium since April 2015.

Lately, Antonov State Enterprise has been reported as developing cooperation with a number of nations in the Middle East. For instance, on 19 March 2018, Antonov was said to be holding talks with Lybia regarding the restoration of airworthiness of Libya's An-124-100 Ruslan stored in Ukraine. Two weeks before that, Interfax-Ukraine reported that Ukraine and Saudi Arabia were working out a scheme for industrial cooperation under the An-132 program.

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