26 April 2004 22:52
UGMK net profit up 340%
YEKATERINBURG. April 26 (Interfax) - Net profit at Ural Mining and Metallurgical Company (UGMK) in 2003 amounted to
2.13 billion rubles in 2003, up 342% year-on-year, company General Director Andrei Kozitsyn said at a press conference
in Yekaterinburg on Monday.
Companies in UGMK increased sales 16.4% year-on-year to 46.44 billion rubles. Sales profit increased 49% to 4.92
billion rubles, with pretax profit up 230% to 3.24 billion rubles.
Kozitsyn said that this significant improvement in the company's results in 2003 was primarily due to growth in
production of products with high added value, which accounted for over 60% of overall sales.
The general director said that in 2003 UGMK invested 3.27 billion rubles in development, up 27.8% from 2002. [RU
EUROPE ASIA EEU EMRG RES CORA MET] rd <>
[Interfax] |
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