Russia’s Severstal sees net profit rise in January-June

Russian steelmaker Severstal has stated that in H1 this year its net profit amounted to Ruble 16.1 billion ($0.557 billion), up 20 percent compared to H1 2010. The company's revenues for the first half of the year increased by 29 percent year on year to Ruble 123.9 billion ($4.29 billion). In the given period, gross profit of the company decreased by three percent year on year to Ruble 26.7 billion ($0.924 billion).