Vitkovice Steel posts increase in profit

Czech steelmaker Vitkovice Steel disclosed that the company's after-tax profit increased CZK 1 billion ($4.5 million) year on year to CZK 2.575 billion ($114.7 billion) last year. Revenues from sales of own products and services rose from CZK 3.98 billion ($177.3 million) in 2004 to CZK 14.339 billion ($638.7 million) in 2005. Vitkovice Steel had previously sold its products through state-run company Osinek. The company's consolidated sales, including the sales of Osinek, amounted to CZK 13.5 billion ($601.3 million).