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2010.08.23 | Russia’s Severstal RAS revenue soars 63% on year in January–June The revenue of Russian steelmaker Severstal surged 62.8% on the year to 96.15 billion rubles in January–June, as calculated under Russian Accounting Standards (RAS), the company said in a report.The company’s gross profit increased to 27.4 billion rubles in January–June from about 9 billion rubles in the same period of 2009, while sales profit jumped to 19.3 billion rubles from about 3.2 billion rubles. As reported earlier, Severstal posted a net profit of 13.427 billion rubles in January–June against a net loss of 3.544 billion rubles in the same period of 2009. Severstal’s net profit plummeted to 1.357 billion rubles in 2009 from 38.579 billion rubles in 2008. Severstal is an international, vertically integrated mining and metallurgy company with steel assets in Russia, North America, and Europe. (30.4199 rubles – U.S. $1) PRIME-TASS return |
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