Evraz issues 3Q RAS financial results

The Russian Evraz Group has announced the financial results of its major subsidiaries for the third quarter of 2006 under the Russian Accounting Standards (RAS). Accordingly, Ervaz's Nizhny Tagil Iron and Steel Plant (NTMK) increased its revenue by 25.8 percent, its gross profit by 71.2 percent, its operating profit by 83.8 percent, while its net profit rose by 95.7 percent year on year in the quarter ended September 30. The respective figures in millions of Rubles were 20.2 ($759,123), 7.99 ($299,996), 7.2 ($269,985) and 5.2 ($193,907). During the period in question, West Siberian Iron and Steel Plant (ZapSib) registered a 76.3 percent increase in its revenue, a 238.3 percent increase in its gross profit, a 377.8 percent rise in its operating profit and a 672.2 percent increase in its net profit. The respective figures in million of Rubles stood at 20.7 ($776,306), 7.6 ($283,490), 6.7 ($251,806), and 5.05 ($189,232).