OREANDA-NEWS. February 03, 2011. According to the preliminary data, Motor Sich, a major producer of aircraft engines in the CIS region, earned a profit of UAH 1,249mn in 2010, Interfax reported Feb 2.

Millennium Capital considers the news as POSITIVE for MSICH. Although the company traditionally demonstrated strong performance in the third and fourth quarters, the preliminary FY2010 results were well ahead of consensus forecast (UAH 869mn). The FY results were propelled by outstanding profit in 4Q10 (UAH 541mn) which turned up c.2x the result of 3Q10. We look forward to full results to identify the major drivers of this strong earnings momentum in 4Q10.