7 Dec 2009 15:20

NLMK boosts Q3 GAAP revenue 35% to $1.74 bln

MOSCOW. Dec 7 (Interfax) - Novolipetsk Steel (NLMK) boosted sales revenue to US GAAP 35% in Q3 2009 compared with Q2 2009 to $1.739 billion, the Russian steel major said in a statement.

Revenue fell 55% year-on-year in January-September to $4.325 billion.

Net profit in Q3 was $164 million, compared with losses of $49 million in Q2.

NLMK confirmed it plans to produce 10.5 million tonnes of steel this year. Output should fall 4% in Q4 compared with Q3 to 2.8 million tonnes.