Russia’s Metalloinvest reports increased net profit for 2011

Russia-based leading global iron ore and HBI (hot briquetted iron) producer Metalloinvest has announced that in 2011 it achieved a net profit of about RUB 49.43 billion ($1.7 billion), compared to RUB 21.2 billion ($0.7 billion) in 2010. In the given period, the company's revenue reached RUB 50.239 billion ($1.7 billion), compared to RUB 22.52 billion ($0.76 billion) in 2010.