Belneftekhim’s profitability of sales over 13% in January-May

The profitability of sales reported by enterprises of the Belarusian petrochemical concern Belneftekhim exceeded 13% in January-May 2014 while the target was 9.8%, Belneftekhim’s press service told BelTA.

An increase in net profit of the enterprises was secured. The ratio of external accounts receivable without taking into account advance payments and the export of commodities and services is expected to be at most 2.5% according to preliminary estimates. The figure corresponds to the strategy that has been put together to reduce the external accounts receivable by the end of 2014, said the press service.

In January-May 2014 a 7.6% increase in industrial output was registered in comparison with January-May 2013. The ratio of the stock in storage and the average monthly output was normal (22.1% while the targeted maximum was 24%).

Belneftekhim’s representatives also stressed that the concern managed to continue having a foreign trade surplus. In comparison with early 2014 positive trends in the export of commodities and services were registered although quotations for the main products made by Belneftekhim enterprises dropped considerably since 2013, thus affecting the financial results of export operations. The indicator is also influenced by a considerable increase in supplies of oil products to Russia.

In H1 2014 Belneftekhim enterprises are expected to improve the export of commodities and services and secure other targets of the social and economic development forecast. The output growth rate is expected to be close to 107% as against the same period of last year. Thanks to the agreements the Belarus president and Russia’s leadership made in the course of the Eurasian Economic Union creation Belneftekhim enterprises can work in a planned and stable manner, putting persistent efforts into reaching the goals set by the Belarus government, said representatives of Belneftekhim.