Ukraine's major arms exporter reports profit up 1.3 times in 2017

The state-owned Ukrspecexport, which is part of Ukroboronprom State Concern and Ukraine's main exporter of all types of weapons and military equipment, increased its net profit by 1.33 times in 2017.

The profits rose from UAH 108 million ($4.13 million) in 2016 to UAH 144 million ($5.5 million) in the past year, according to the company's report filed in the system of information disclosure of the National Commission on Securities and Stock Market.

At the same time, net income from sales of products amounted to UAH 1.2 billion ($46 million), which is 1.75 times less than in 2017 (UAH 2.1 billion, or $80.77 million).

Read alsoUkraine masters production of large caliber artillery ammo (Photo, Video)As UNIAN reported earlier, Ukrspecexport in 2016 increased its net profit by 17.6% - to UAH 108 million from UAH 91.8 million in 2015.

UNIAN memo. The state-owned Ukrspecexport is Ukraine'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.