Page 45 - RusRPTApr20

4.3.2 Corporate profits dynamics
Russian firms got off to a good start to the year earning RUB1,238.7bn in profit, the latest data available. That was only slightly less than the RUB1,264.5bn they earned a year earlier, but a lot more than they earned in 2018 or 2017 and three times more than they earned in 2016.
Russia’s firms had clearly emerged from the crisis years of 2015-2016 and were back to normal by the middle of 2018. However, the bottom has been knocked out of the bucket as the second quarter of this year gets under way thanks to the coronavirus. At the time of writing it remains totally unclear just how big an impact the pandemic will have on corporate profits
45 RUSSIA Country Report April 2020 www.intellinews.com