GAZ Group has tripled its profit in 2017 with 3,5 billion rubles

GAZ Group has tripled its profit in 2017 with 3,5 billion rubles

RNS GAZ Group has made a net profit of 3,5 billion rubles in 2017, according to IFRS, improving from 1,1 billion rubles in 2016, as stated by the company.

“The growth in profit is due to the increase in the sales of new products, which belong to a higher price segment in comparison with the classical model range. The reduction in costs has also had a positive effect on the financial figures” – according to the statement.

The revenues have risen by 10% year-on-year in 2017, reaching 164,6 billion rubles. The EBITDA has increased by 8%, to 14,6 billion rubles.