REUTERS State-owned company Ukrspecexport, which is part of State Concern Ukroboronprom and Ukraine&#39;s main exporter of all types of weapons and military equipment, increased its net profit by 69% in the first quarter of 2018 (Q1) year-over-year (y-o-y) to UAH 64.34 million ($2.4 million) from UAH 38 million (US$1.4 million). Read alsoUkraine masters production of large caliber artillery ammo (Photo, Video) Net revenue from sales of products in Q1 stood at UAH 364.1 million ($13.8 million), which was 7.85% up from UAH 337.6 million ($12.8 million) y-o-y, according to a company announcement in the National Securities and Stock Market Commission&#39;s information disclosure system. As UNIAN reported earlier, Ukrspecexport increased its net profit by 1.33 times in 2017 to UAH 144 million ($5.5 million) from UAH 108 million ($4.1 million). UNIAN memo. The state-owned company Ukrspecexport is Ukraine&#39;s key exporter of all types of weapons and military equipment (up to 85% of all military-technical cooperation). The company unites a number of subsidiaries manufacturing special equipment.