14 Aug 2012 17:05
Ashinsky Metallurgical Works doubles net profit in H1
CHELYABINSK. Aug 14 (Interfax) - OJSC Ashinsky Metallurgical Works (Chelyabinsk Region) posted 344.886 million rubles in net profit according to Russian accounting standards (RAS) for January-June 2012, up 100% from the same period of 2011, the company said in its RAS reporting.
The enterprise's sales revenue decreased by 5.5% to 8.1229 billion rubles.
The increase in net profit was driven by rising profits from operations.
Ashinsky Metallurgical Works' main financial results for H1 2012 (in thousands of rubles):
| H1 2012 | H1 2011 | |
| Sales revenue | 8 112 977 | 8 590 629 |
| Costs of sales | 6 827 424 | 7 751 377 |