On August 5, the Russian steelmaker Novolipetsk Steel (NLMK) announced sales data for the second quarter of 2011. According to the company statement, NLMK's revenue in the second quarter increased to Ruble 60.5 billion ($0.23 billion), up 36 percent compared to the previous quarter and up 29.54 percent compared to the same quarter last year. The operating profit of NLMK Group is reported as Ruble 10 billion ($0.35 billion), up 80 percent compared to the previous quarter and up 6.72 percent compared to the same quarter of 2010.
The net profit of Russian steelmaker Novolipetsk Steel (NLMK) Group increased fourfold in Q2 this year compared to Q1 and was up 140 percent year on year, rising to Ruble 28.06 billion ($0.996 billion).
NLMK also stated that the improvements in its results were driven by stronger operating results which were supported by the seasonal recovery in the construction industry, higher sales volumes and product mix improvements.