NLMK reports net profit decrease

According to preliminary results of financial year 2005, Novolipetsk Steel's (NLMK) net profit decreased 21.84 percent year on year to $1.385 billion in 2005 under US GAAP. At the same period, the sales revenue fell 2 percent to $4.469 billion and operational profit decreased 16 percent to $1.86 billion. Gross profit fell 14 percent year on year to $2.067 billion in 2005.