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4.4​ Corp profit
Corporate profits in Ukraine were doing well in 2019 and the large and medium sized enterprises reported an exceptionally good fourth quarter taking in UAH274bn ($9.6bn) in the last quarter to bring the total corporate profits for 2019 to UAH529bn($18.5bn).
However, the economic shocks of 2020 killed off activity in the first quarter and send corporates collectively into a loss of UAH118bn. There was a mild recovery in the second quarter where companies earned UAH28bn (about $1bn) but that was almost a third of what they earned in the same period a year earlier.
On a cumulative basis, Ukraine’s companies are loss making in the first half of this year, down by just under UAH90bn ($3.1bn). While there was a mild recovery in the second quarter that recovery is now under threat at the second wave of the coronavirus (COVID-19) gathers momentum and another lockdown may be on the cards.
22​ UKRAINE Country Report​ November 2020 ​ ​www.intellinews.com