MOSCOW, October 31 (RIA Novosti) - Russia's largest truck producer KamAZ said on Friday its net profit calculated to International Financial Reporting Standards (IFRS) increased 21.7% year-on-year in the first half of 2008 to 4.2 billion rubles ($155 million).
Sales rose 15.5% to 51.3 billion rubles ($1.9 billion) in the reporting period.
KamAZ also posted losses of 180 million rubles ($6.8 million), calculated to Russian Accounting Standards, in the third quarter of 2008, against 1.3 billion rubles ($49 million) of net profit in the second quarter, due to rising metals and component prices.
KamAZ, based in the Volga Republic of Tatarstan, produces more than 30 models of trucks, as well as trailers, buses, tractors and spare parts. It also manufactures engines, power units, and components.
The company has assembly facilities in Poland, Kazakhstan, Azerbaijan, Ethiopia, Vietnam and Ukraine.
