Pushka Cement Ends 2006 With Net Income of USD 1 mln

Kramatorsk Cement Pushka (KRCS) finished 2006 with net income of USD 1 mln (+15% yoy). Net revenues were also up 16% yoy to USD 4.4 mln. In 2006, the company reduced output by 8.3% yoy to 604 ths mt. Olha Pankiv: Growing construction volumes drove demand for cement up so that the company managed to transfer an increase in gas prices in 2006 to final consumers, slightly improving its gross margin. The decrease in Pushka’s output volume in 2006 is due to a high base in 2005, when it was producing more than 100% of its capacity.