MOSCOW, June 18 (RIA Novosti) - Sibur Holding, Russia's largest petrochemicals company, said Monday its net profit calculated to International Financial Reporting Standards (IFRS) increased 90%, year-on-year, in 2006 to 21.1 billion rubles (about $812 million).
Sibur Holding, which is owned by Russian energy giant Gazprom, said its revenues grew 14.3% in the reporting period to 121.9 billion rubles (about $4.7 billion), operating profit climbed 48% to 28.2 billion rubles (about $1.1 billion), while liabilities decreased from 26.1 billion rubles (about $1 billion) in 2005, to 21.1 billion rubles (about $812 million) in 2006, the company's statement said.
Sibur Holding was established in December 2005 after Gazprom announced it would reorganize the Sibur joint stock company into a new entity, Sibur Holding, as the final step in "the reorganization of the petrochemical business."
