MOSCOW, August 7 (RIA Novosti) - Russian titanium producer VSMPO-Avisma posted on Friday a 5% drop year-on-year in its net profit calculated to Russian Accounting Standards to 1.7 billion rubles ($54.5 mln) in the first half of 2009.
The company's revenue stood at 12.8 billion rubles ($410.5 mln) in the reporting period, down 14.2% against January-June 2008.
The titanium producer explained its poorer performance with lower sales amid the ongoing global credit crunch.
VSMPO-Avisma is the world's largest titanium producer.
