NLMK’s net profit drops 47.64%

5 August 2010 (09:02)

The net profit of Novolipetsk Iron & Steel Works (NLMK) decreased by 47.64% in the second quarter of 2010 compared with the second quarter of 2009. According to the company’s financial report (compiled in accordance with the Russian Accounting Standards), the enterprise’s net profit amounted to 11,688,153,000 RUR over the given period, whereas a year earlier, the company made 22,322,948,000 RUR worth of profits.

On the other hand, NLMK’s profits were better in the second quarter of the year than in the first one, as the said net profit figures were 4.4 times greater than in the first quarter of 2010. This impressive increase in net profits is said to stem from the dividends of daughter enterprises for the year 2009.

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