MMK reports strong RAS profit for H1

Thursday, 19 July 2007 15:37:35 (GMT+3)   |  
The Russian steel producer Magnitogorsk Iron and Steel Works (MMK) has issued its financial results for the first half of 2007 under the Russian Accounting Standards (RAS).

Accordingly, during the period in question MMK's net profit increased by 68.12 percent year on year to Ruble 26.1 billion (approx. $1 billion).

MMK stated that it was able to raise its net profit considerably during the period in question due to increased sales and reductions in production costs.


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