In second quarter 2007 net profit of Famazdar Kartona Ltd decreased by 56.5%

Aug 03, 2007. /Lesprom Network/. In second quarter 2007 net profit of Famazdar Kartona Ltd (Rostov region) decreased by 56.5% to RUR 2.4 million, revenue rose by 4.2% to RUR 131.4 million. The company noted that revenue growth resulted from modernization of technology equipment which allowed increasing efficiency and reduce input costs. Marketing and sales department also improved operations. Famazdar Kartona Ltd main products are corrugated board and products thereof with complicate configuration and 3-colour printing. The company sells its products in Rostov region (33.3%), Volgograd region (12.2%), Krasnodar kraj (32.6%) and Stavropol kraj (20.4%). In second quarter sales in Krasnodar kraj rose by 3.4% and new contracts were signed with Mjasokombinat Krasnodarsky and Agrokombinat Teplichniy. Company’s main suppliers of raw materials (cardboard and paper for corrugating) are Mondi Business Paper Syktyvkarskiy LPC (24.9%), Kartontara (12.2%) and Arkhanguelsky PPM (11.9%). Famazdar Kartona Ltd shareholders are Filomedon Karton Industry Ltd – 38.17%, Emporiki Venture Capital Emerging Markets Limited – 43.33%, Cyprus Bank of development – 18.5%.