ARMZ Uranium Holding Co. Releases its 2009 IFRS Statements
OREANDA-NEWS. July 12, 2010. ARMZ Uranium Holding Co. (JSC Atomredmetzoloto) has published its 2009 consolidated financial statements prepared under the international standards and the Independent Auditor Report prepared by BDO.
The financial results of Atomredmetzoloto reflect the dynamics of the company's development. Sales revenues in 2009 grew by 92.4% to RUR 29.2 bln as compared to RUR 15.2 bln in 2008. The Company's operating profit increased 3.3 times – from RUR 2.6 bln in 2008 to RUR 8.7 bln in 2009. Net profit of ARMZ grew 23.3 times to RUR 6.7 bln as compared to RUR 289.2 mln a year ago.
Atomredmetzoloto publishes its IFS financial statements for the second time. Towards the end of increasing transparency of its business for Russian and foreign partners, ARMZ intends to continue publishing its financial statements prepared under the international standards annually.