MOSCOW, May 2 (RIA Novosti) - UAZ, a leading Russian auto maker, said Wednesday its net income calculated to Russian Accounting Standards (RAS) grew 19.3%, year-on-year, in the first quarter of 2007, to 124.14 million rubles (about $4.8 million).
UAZ, which is part of automaker Severstal-Avto, a subsidiary of steelmaker Severstal, said its Q1 net income narrowed 52.4% compared with the fourth quarter of 2006 due to reduced earnings from product sales as a result of a seasonal slump.
UAZ, which is located in the Ulyanovsk Region in the Volga area, produces off road vehicles, light-duty trucks and mini-vans. It has also been assembling Isuzu trucks since July 2006.
