The Russian steelmaker Magnitogorsk Iron and Steel Works (MMK) has released its US GAAP (Generally Accepted Accounting Principles) results for the first half of 2008.
Accordingly, during the period in question, MMK's revenue registered a 41 percent increase to $5.653 billion, while its net profit upped by 19 percent to $1.031 billion, both compared with the same period last year.
MMK's profit before interest, taxes, depreciation and amortization (EBITDA) rose by 25 percent year on year to $1.511 billion in the first six months of 2008.