Mogilevdrev OJSC has restored the business solvency, making Mogilev Region Economic Court drop the relevant bankruptcy case, a court representative told Interfax.
According to the company's anti-crisis manager Alexander Bondarev, over the past five years the company considerably improved its economic performance. Over the period in question the company's output grew 2.3-fold, consumer goods output rose by 60%. Exports expanded by 52%, and the efficiency of labor grew 3.4-fold.
In January-May 2008 Mogilevdrev OJSC made BYR 8.3 billion worth of goods, or 9.1% up on the year. Consumer goods output rose by 16%. Over the period in question the company exported $1.2 million worth of goods to the CIS, Germany, Austria and Czechia. Exports accounted for 25% of the total sales of the company in January-May.
In January-April the company earned a net profit of BYR 234 million (3.2 times up), including BYR 134 million in April alone. The return on goods totaled 6.1% in January-April (11.5% in April).
Apart from kitchen furniture, beds, shelves, tables, lockers, Mogilevdrev company produces joiner's instrument.
Mogilevdrev was formed in 1973 to produce furniture joiner's goods, and timber. It employs 1,000 persons.