Evraz reports financial results for its subsidiaries for Q2

Evraz Group, one of the largest Russian integrated steel production and businesses, has announced the financial results for its subsidiaries for the second quarter of 2006 under the Russian Accounting Standards (RAS). Thus, Nizhny Tagil Iron and Steel Plant (NTMK) net profit rose 11 percent year on year and 60 percent compared to the first quarter of 2006 to Ruble 4.4 billion (approx. $163.25 million) in the second quarter of 2006. NTMK's revenue from sales rose 9 percent year on year and 26 percent compared to the first quarter of 2006 to Ruble 18.7 billion (approx. $698.3 million) in the second quarter of 2006. West Siberian Iron and Steel Plant (Zapsib) net profit rose 176 percent year on year and 151 percent compared to the first quarter of 2006 to Ruble 3.4 billion ($128.1 million)in the second quarter of 2006. Zapsib's revenue from sales rose 24 percent year on year and 30 percent compared to the first quarter of 2006 to Ruble 18.31 billion ($682.9 million) in the second quarter of 2006.