MOSCOW, April 4 (RIA Novosti) - Novolipetsk Steel, one of Russia's largest steel producers, said Friday its net profit calculated to Russian Accounting Standards (RAS) dropped by almost 20% to $1.7 billion in 2007, year-on-year.
The steel producer said the decrease followed a drop in investment returns due to an absence of large assets sales.
The company said its earnings increased 10.4% last year to 155 billion rubles ($6.6 billion), year-on-year.
