MOSCOW, November 20 (RIA Novosti) - Severstal [RTS: CHMF] said Monday its earnings, calculated to Russian Accounting Standards, grew 6.3%, year-on-year, in the first nine months of 2006, to 113.59 billion rubles (about $4.2 billion).
Russia's second-largest steel producer earlier said its net profit, calculated to Russian Accounting Standards, fell 7.4%, year-on-year, in January-September, to 23.5 billion rubles (about $870 million).
Severstal sought a merger with the world's second-largest steelmaker, Arcelor, but the deal, signed May 26, fell through when it was rejected by Arcelor shareholders June 30, to clear the way for a takeover of the Luxembourg-based company by the world's largest steel company, Mittal Steel.
Arcelor paid Severstal 140 million euros (about $180 million) in compensation.
