Amtel raises revenue, achieves 64 % profit rise

By Liz White, ERJ staff
Moscow-Amtel Holdings Holland raised its revenue by 19 percent to $383 million (Euro 320 million) in 2003, with gross profit 64 percent up, year-on-year, to $46 million.  Net profit after taxes in 2003 was $11.5 million, and company assets at 31 Dec 2003 were $485 million, with shareholder equity of $119 million, said a statement from the major Russian tyre maker.

The Moscow-based group attributes the increased sales and profit largely to modernisation of its production facilities and the launch of a…

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