In January-September the state enterprise United Mining and Chemical Company increased its net profits 2.8 times YoY, or by 427.9 million UAH, to 666 million UAH.
“This has been achieved by increasing sales in the period”, the company CEO Alexander Gladushko said.
Even though world ilmenite, rutile and zircon prices haven’t increased, Volnogorsk Mining and Processing Works was able to increase sales, while Irshansk Mining and Processing Works entered the export markets.
The company income went up by 65% YoY, to 1.92 billion UAH.
In January-September the company sold 430 thousand tons of products as opposed to 280 thousand tons in January-September 2015, with 222 thousand tons of ilmenite, 42 thousand tons of rutile and 21 thousand tons of zircon sold.
At the same time, the company has problems with sales. As of November 1, its subsidiaries stocked 125 thousand tons of products. (Ukrainian metal)