19 May 2004 07:43
RAILS PRODUCER NKMK`S PROFITS SOAR IN Q1
MOSCOW. May 19 (Interfax) - The EvrazHolding's Novokuznetsk Metallurgical Combine (NkMK) - one of Russia's
biggest rails producers - nearly tripled net profits in the first quarter of 2004 compared with the fourth quarter of
2003 to 1.75 billion rubles, NkMK said in its report.
NkMK, set up with assets of the bankrupt Kuznetsky Metallurgical Combine as its core, did not officially start
operating until October 1, 2003. EvrazHolding, Russia's bigegst steel company, has controlled NkMK since December
1, 2003.
NkMK produced 600,000 tonnes of roll, 659,000 tonnes of crude
steel, 575,000 tonnes of pig iron and 293,000 tonnes of coke in the
NkMK's revenues were 7.123 billion rubles in the first quarter. The steel mill took advantage of favorable
market trends to boost exports, which accounted for more than half of sales.
Costs were 5.275 billion rubles, gross profit 1.847 billion rubles, operating profit 1.508 billion rubles and the
profit margin 21%.
first quarter of 2004.
[Interfax] |
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