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January-May Cumulative Profits of Russian Companies Up 38%

  • 31 Jul 09:47

January-May Cumulative Profits of Russian Companies Up 38% Corporate recovery in Russia started to gain momentum in the first five months of the year, and companies are on track to record their most profitable year since 2015,Intellinewsreported. According to the last available data for May, cumulative profits for the first five months of this year reached 6.743 trillion ($106.3 million), up by 38% on the previous year. Russian corporate profits were up by 128.8 billion rubles ($20.3 billion), which was about average for the year to date. In general, while profits have grown slowly over the last three years, in 2019 the cumulative profits growth is well ahead of all three previous years and a sustainable recovery in. Read more...