NLMK net profit up 19 percent in fourth quarter of 2005

Novolipetsk Steel (NLMK) has reported 19 percent increase in net profit in fourth quarter of 2005 over that of third quarter, to Ruble 7.724 billion ($279.410 million) according to the Russian Accounting Standards (RAS). The rise in sale profit was due to raw material price decrease and improved condition on the global steel market. However, as the report continues, NLMK net profit decreased 26.46 percent from Ruble 49.849 billion ($1.803 billion) to Rubble 35.165 billion ($1.272 billion) year on year in 2005.