02 June 2004 17:12
NORILSK NICKEL IAS NET PROFIT UP 47% IN 2003
MOSCOW. June 2 (Interfax) - Net profit at AO MMC Norilsk Nickel to international accounting standards amounted to
$861 million in 2003 - up 47% from $584 million in 2002, the company's press service said.
Deloitte & Touche prepared the company's report to international standards.
The company's board of directors has proposed to shareholders to approve dividends for 2003 at the level of
dividends paid for the first nine months of the year, or 42.1 rubles per common share.
The company paid dividends of 21.7 rubles ($0.68 rubles) per share with a par value of 1 ruble for 2002. Dividends
for 2002 amounted to 25% of net profit to international standards.
The company's sales revenue increased 68% in 2003 to $5.196 billion. This was mainly due to an increase in the
volume of exports, an increase in the average annual price for nonferrous metals, PGM - except for palladium, and gold
and also the consolidation of the financial results of the company Stillwater.
[Interfax] |
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