The Russian steelmaker Magnitogorsk Iron and Steel Works (MMK) has issued its US GAAP (Generally Accepted Accounting Principles) results for the first quarter of 2007.
Accordingly, during the period in question, MMK registered a 51.7 percent increase in its revenue to $1.845 billion, a 53.8 percent increase in its operational profit to $449 million, and a 41.1 percent increase in its net profit to $350 million.
MMK's year on year EBITDA rose by 50.9 percent to $505 million in the first quarter of 2007.