Ukrainian companies booked $3bn of losses in the first half of 2020

Ukrainian companies booked $3bn of losses in the first half of 2020
Despite a mild recovery in the second quarter Ukraine’s companies are loss-making in the first half of this year, down by just under UAH90bn ($3.1bn) on a cumulative basis / bne IntelliNews
By bne IntelliNews November 2, 2020

Corporate profits in Ukraine were doing well in 2019 and the large and medium-sized enterprises reported an exceptionally good fourth quarter, taking in UAH274bn ($9.6bn) in the last quarter to bring the total corporate profits for 2019 to UAH529bn ($18.5bn).

However, the economic shocks of 2020 killed off activity in the first quarter and sent corporates collectively into a loss of UAH118bn. There was a mild recovery in the second quarter, where companies earned UAH28bn (about $1bn), but that was almost a third of what they earned in the same period a year earlier.

On a cumulative basis, Ukraine’s companies were loss-making in the first half of this year, down by just under UAH90bn ($3.1bn). While there was a mild recovery in the second quarter, that recovery is now under threat at the second wave of the coronavirus (COVID-19) gathers momentum and another lockdown may be on the cards.

 

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Data

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NBU cuts rates 100bp to 13.5% on falling inflation
55 minutes ago
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Slovak unemployment inched further down to 3.88% in March
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