MOSCOW, August 30 (RIA Novosti) - GAZ [RTS: GAZA], a leading Russian car maker, said Wednesday its sales revenues calculated to International Financial Reporting Standards grew 18% year-on-year in the first half of 2006 to 45.86 billion rubles (about $1.69 billion).
GAZ, which is based in the central Russian city of Niznhy Novgorod and supplies vehicles to 29 countries in the former Soviet Union, eastern Europe, Southeast Asia, Africa, Latin America and the Middle East, said its earnings before interest, taxes, depreciation and amortization (EBITDA) had grown 45.7% in the first half of 2006 to 5.73 billion rubles (about $212 million).
GAZ, which produces about 200,000 vehicles a year, said its rate of return had risen from 10.1% to 12.5% in the reporting period.
