Metinvest subsidiaries posts growth in sales revenues in H1

Tuesday, 28 July 2015 13:49:30 (GMT+3)   |   Istanbul
       

Azovstal Iron and Steel Works, a subsidiary of Ukraine's largest vertically-integrated mining and steel group Metinvest, has announced its financial results for the first half of the current year.
 
In the given period, the company's net profit amounted to UAH 351.75 million ($15.9 million), rising by 4.2 times, while its sales revenues increased by 33 percent to UAH 14.3 billion ($646.4 million), both year on year.
 
Meanwhile, in the January-June period this year, the net profit of Ilyich Iron & Steel Works, another Ukrainian steelmaking subsidiary of Metinvest, decreased by 35.9 percent year on year to UAH 302.82 million ($13.7 million). The sales revenues of the company amounted to UAH 16.86 billion ($762.12 million), up 12.9 percent compared to the corresponding period of the previous year.