Sukhoi Jet Manufacturer-Irkut Reports 62% Surge In Exports In 2016

Irkut, a subsidiary of the Russian state-controlled United Aircraft Corporation (UAC), reports 17% increase in the revenue for the financial year 2016 reaching almost US$1.624 billion against US$1.3 billion in 2015.

Russian firm said in a press release today that the main reason is the surge in exports which saw 62% increase. According to the International Financial Reporting Standards (IFRS), the company’s gross margin in 2016 was 28% compared to 16% in 2015, the release states.

The net profit exceeded 1.1% in 2016 amounting to US$18.219 million. The profit from operating activities in 2016 exceeded 121 mln US$, which completely covered the Corporation's borrowing costs, the release added.