MOSCOW, April 1 (RIA Novosti) - SIBUR Holding increased its net profit calculated to International Financial Reporting Standards 4.2% year-on-year in 2007 to $949 million, the Russian top petrochemicals company said on Tuesday.
SIBUR's earnings in 2007 were 142.7 billion rubles ($6 billion) in 2007, a 17% rise on the previous year.
"These results again show a strong financial performance, building on the successes of the previous year. However, to maintain our growth we will be focused on increasing the efficiency of existing production sites and on the construction of new state-of-the-art facilities in gas processing and polymers," SIBUR President Dmitry Konov said in a statement.
SIBUR Holding integrates a number of hydrocarbon refining enterprises and is controlled by the Gazprom Group, the Russian state energy monopoly and the world's largest gas producer.
