MOSCOW, May 15 (RIA Novosti) - The net profit of Evraz Group S.A. according to Russian Accounting Standards grew 103% in the first quarter of 2007, year-on-year, to 10.366 billion rubles ($401.63 million), the company said Tuesday.
The increase resulted from a sales rise and soaring steel prices on the Russian and global markets, the company said.
Evraz Group is one of the world's largest steel and mining companies, with operations mainly in Russia. It includes three of Russia's top steel companies, - Nizhny Tagil (NTMK) in the Urals region, West Siberian (ZapSib) and Novokuznetsk (NKMK) in Siberia. Evraz accounts for over 20% of global vanadium output.
