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16:43
VESTA-DNEPR SEES UAH 43.76 M IN NET LOSSES IN H1, 2009

Kyiv, July 28 (Interfax-Ukraine) - Dnipropetrovsk-based Ukrainian-Hungarian CJSC with foreign investments Vesta-Dnepr, the large domestic industrial accumulator producer, in January to June 2009 saw UAH 43.87 million in net losses, while in H1, 2008 the company’s net profit was estimated at UAH 21.64 million.

According to a company financial report at the State Commission for Securities and the Stock Market, over the period under review its net income from sales reduced by 11.2% year-over-year, to UAH 317.02 million.

Since the start of the year, the company's current commitments have grown by 11%, to UAH 377.95 million, while its long-term commitments rose by 10.4%, to UAH 386.22 million.

The company's report for January-March 2009 is not available at the State Commission for Securities and the Stock Market.

As reported, in 2008 the company enjoyed UAH 696.411 million in net profit, which is 87% up year-over-year, while its net losses jumped 4.3 times, to UAH 99.46 million.

CJSC Vesta-Dnepr was created in 2002 for implementing a large-scale project to manufacture VRLA batteries and industrial accumulators using new technologies. The company is part of the Vesta international scientific and industrial corporation, one of the largest accumulator producers in Ukraine and Western Europe.

Hungary's West Energy owns a 63.2% in CJSC Vesta-Dnepr, while Dniprovsky Engineering Plant owns a 25% and Transmag – 11.8% stake.

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