WARSAW — Ukraine's leading defense group, Ukroboronprom, posted a net profit of 810 million hryvnia (US $35.9 million) for 2014-2015, up from a net loss of 99 million hryvnia a year earlier, the group's chief executive said at a press conference recently.

Between July 4, 2014, and July 4, 2015, Ukroboronprom reported revenues of 12.6 billion hryvnia, General Manager Roman Romanov said in presenting the company's annual results. The improved results were due largely to increased military procurements from the Ukrainian armed forces, which are continuing to combat Russian-backed insurgents in the country's east.
 
In the past year, Ukroboronprom delivered 3,936 units of new and modernized military equipment to Ukraine's armed forces. The new acquisitions included 105 armored vehicles, 2,686 missiles and artillery units, and 459 communication units, as well as other gear. Of the 2,799 modernized units, Ukroboronprom supplied 1,442 armored vehicles, 641 missiles and artillery units, and 553 communication systems, and other equipment.
 
Based in Kiev, Ukroboronprom was set up in 2010 to consolidate the country's defense industry. The Ukrainian group comprises 137 defense companies. Its subsidiaries specialize in production and export of aircraft, tanks, missiles, vessels, armored vehicles, munitions and other types of weapons and military equipment.

In May 2015, the Ukrainian government decided to expand the group and integrate local aircraft producer Antonov within Ukroboronprom.

Email: jadamowski@defensenews.com

Jaroslaw Adamowski is the Poland correspondent for Defense News.

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