SIBUR, Russia's largest petrochemical company, posted a net income of 16.0 bln rubles (US$481 mln) for FY 2008, a 29.2% decline compared to the bottom line in the same period last year. The reasons atttributable to decline in net income were an increase in the overall tax burden, higher interest charges as well as losses from operations as a result of dramatic fluctuations in foreign currency exchange rates.
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Saturday, May 02, 2009
SIBUR posts 29% decline in FY 2008 net income; expects 'downturn' by 2009 end
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