The Russian steel producer Magnitogorsk Iron and Steel Works (MMK) has issued its financial results for the first nine months of 2007 under the Russian Accounting Standards (RAS).
Accordingly, during the period in question MMK's net profit increased by 52 percent to Ruble 40.58 billion (approx. $1.63 billion), its revenue rose by 23 percent to Ruble 142.956 billion ($5.7 billion) and its sales profits increased by 11 percent to Ruble 40.37 billion ($1.62 billion), all compared to the company's RAS results in the first nine months of 2006.