MMK Sees Higher Net Profit

15.07.2008 (12:50)

The net profit of Magnitogorsk Iron and Steel Works (MMK) under RAS grew 42.74 percent to roughly RUB 37.256bn (approx. USD 1.604bn) in the first half of 2008 compared to the same period of the previous year.

Specifically, net profit amounted to nearly RUB 6.178bn (approx. USD 266m) in the first quarter and some RUB 31.079 (approx. USD 1.34bn) in Q2, RBC reports.

As reported earlier, MMK's net profit surged 68.12 percent to nearly RUB 26.101bn (approx. USD 1.12bn) in H1 2007 against the same period of 2006.