Ukraine's major arms exporter boosts profit by 69% in Q1

State-owned company Ukrspecexport, which is part of State Concern Ukroboronprom and Ukraine'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).

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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'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'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.