VIZ-Stal’s net profit drops 58%

6 August 2009 (08:13)

According to VIZ-Stal’s financial report (compiled in accordance with the Russian Accounting Standards), the steel manufacturer’s net profit decreased by 58% in the second quarter of 2009.

The sales reached 17,700 tons of goods in April-May 2009, with sales revenues amounting to 1.9 billion RUR and gross profit coming to .9 billion RUR.

‘Our net profit nosedived because of the changing foreign currency exchange rates, which affected our foreign currency transactions,’ VIZ-Stal reports.

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