R&P Polyplastic announces results of the first half of this year

R&P Polyplastic announces…

Research and Production Enterprise “Polyplastic” continues to weather the crisis, however results of the first half of this year were significantly influenced by the coronavirus pandemic. As expected, key indicators including earnings and sale’s volumes demonstrated an insignificant decline that, nevertheless, had no substantial impact on the net profit index, remaining at the average level of the previous five years. 

A very successful Q1 with over 22 thousand tons of shipments and earnings exceeding 2 billion Rubles contributed to balancing the results of first half of 2020. 

There were no major changes in the company’s sales mix. Leading international auto manufacturers with plants in Russia and household appliances producers continued to be the largest consumers. Construction materials producers traditionally took the third place by the purchasing volumes.  

The company achieved considerable success in development and manufacturing implementation of new materials. А breakthrough was achieved in developing an innovative antistatic compound Armlen PP-10AS-9010, which may be used in production of plastic packaging.   

Additionally, one of the company’s achievements is homologation of material for Hyundai automobiles bumpers, which has been already implemented into production and is supplied to the Russian plant of the corporation.   

In conclusion, Managing Partner Mr. Andrey Menshov thanked all workers for their dedicated work in the face of the coronavirus pandemic. Despite implementation of quarantine measures R&P Polyplastic did not stop production and continued shipments to its consumers strictly according to the plan. During this sensitive period, the company proved to be stress resistant and did not cut jobs or salary funds. The company’s staff managed to maintain team spirit and coherence of elements of the value chain in hope of demand recovery and economic growth in the second half of 2020.