Avtovaz posts 3.1 bln rubles IFRS net profit in H1 2010
MOSCOW. Oct 5 (Interfax) - Avtovaz closed H1 2010 with net profit of 3.1 billion rubles to International Financial Reporting Standards (IFRS), compared with losses of 19.6 billion rubles in the same period of last year, the car maker said in a statement.
Sales revenue grew 38.2% year-on-year to 61.984 billion rubles, and the cost of sales rose 26.2% to 55.848 billion rubles.
Pretax profit was 3.74 billion rubles in h1 2010, compared with losses of 20.393 billion rubles in the same period of last year.