Net profit of Mechel JSC drops by 153.95% in second quarter of 2006

2 August 2006 (12:58)

The net profit of Mechel JSC, a metallurgical enterprise, has dropped by 153.95% (or 1,513,701,000 RUR) within the second quarter of the year compared to the previous three months, reports the company’s spokesperson.

This dramatic decrease has been caused by the declining price of their shares as of June 30, 2006, which, in its turn, was brought about by the decrease in the dollar rate (against the previous quarter), as this is the currency the shares are quoted in

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