Ufaleynickel incurred 689.05m RUR of net losses (calculated in accordance with the Russian Accounting Standards) in 2011, which exceeded the figures for a year earlier by 475.2 times, the company reports.

Ufaleynickel’s revenues declined by 9% last year in comparison with the year 2010 and amounted to 8.08bn RUR; this includes revenues stemming from the sales of industrial produce (which went down by 3.8% and reached 6.22m RUR), Kommerant says.