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Norilsk Nickel RAS net profit up 110% in 2006 to $4.7 billion

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MOSCOW, March 30 (RIA Novosti) - The net profit of Norilsk Nickel [RTS: GMKN] according to Russian Accounting Standards grew 110% in 2006, year-on-year, to 121.2 billion rubles ($4.7 billion), the company said Friday.

In the fourth quarter, the world's largest nickel producer's net profit also grew 110% on the third quarter, to 80.5 billion rubles ($3.1 billion).

General Director Mikhail Prokhorov, ranked Russia's 10th richest man by Forbes, will resign April 2. Deputy General Director Denis Morozov will head the company beginning April 3.

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