Ukrnafta's net profit soars by more than five times in nine months

Ukraine's largest oil producer Ukrnafta posted UAH 4.062 billion in net profit January through September 2015, which was 5.3 times up on the same period last year when the company's net profit stood at UAH 764 million, according to the company's financial report posted on Ukraine's National Commission for Securities and the Stock Market.

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Ukrnafta's net revenues from sales of commodities in the nine months of 2015 grew by 15.5% year-over-year, to UAH 21.011 billion from UAH 18.189 billion.

Its gross profit over the period under review increased by 45.3% year-over-year, to UAH 11.084 billion from UAH 7.627 billion.

As UNIAN reported earlier, Ukrnafta early in October 2015 fully met its liabilities before its majority shareholder, NJSC Naftogaz of Ukraine, to pay dividends for 2014, having transferred UAH 632.3 million.

PJSC Ukrnafta is Ukraine's largest oil and gas company. It accounts for 68% of Ukraine's total production of crude oil and condensate, and for 11% of gas output in Ukraine.

Ukrnafta is also a large player on the retail fuel market, as it owns over 560 filling stations across Ukraine.

Ukrnafta has listings on the Ukrainian Exchange and the PFTS stock exchange. Its depositary receipts are traded on the Frankfurt Stock Exchange.

On July 22, 2015, Ukrnafta's shareholders elected U.K. citizen Mark Rollins as chairman of the company's board.

Late in September 2015, Ukrnafta's supervisory board approved and signed a contract with Rollins.

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