AvtoVAZ earns 2.1 bln rubles in RAS net profits in 2010
MOSCOW. March 16 (Interfax) - Russia's largest automaker OJSC AvtoVAZ closed out 2010 with 2.106 billion rubles in net profits to RAS, having posted losses the year before, the company said.
"The enterprise's management and collective achieved a really good result - net profits in 2010 came to 2.106 billion rubles," the company statement quotes the chairman of the company board of directors Sergei Chemezov as saying.
AvtoVAZ's net RAS losses were 38.5 billion rubles in 2009 and 6.7 billion rubles in 2008. Sales revenues in 2009 were down 47% from the previous year at 84.2 billion rubles.
The company also announced that its board of directors has scheduled this year's annual shareholders meeting for June 23 and approved the agenda for it.
AvtoVAZ built 545,450 automobiles last year, 85.1% more than in 2009, and sold 558,724 vehicles (384,246 in 2009).