Page 47 - RusRPTNov19

4.3.2 Corporate profits dynamics
Russian company profits remain strong and August was another year-on-year winner with companies collectively earning RUB10,277bn rubles over the first eight months of this year, up from the RUB8,572bn they earned a year earlier.
In month-on-month terms companies were ahead too earning RUB1,166bn in the month, which again was more than the RUB993bn they earned in August a year ago.
As the cumulative profit chart clearly shows that the recovery amongst corporate began in the second half of last year and built especially in the autumn of 2018. This year companies are well ahead of all the previous three years, but profits picked up strongly in the last quarter of 2018. Currently Russian companies are on track to at least match that performance in the last quarter of the year.
47 RUSSIA Country Report November 2019 www.intellinews.o