MOSCOW, April 21 (RIA Novosti) - Novolipetsk Steel [RTS: NLMK], one of Russia's largest steel and rolled stock producers, said on Monday its US GAAP consolidated net income grew 9% year-on-year in 2007 to $2.25 billion.
The company said revenue in the reporting period rose 28% to $7.72 billion.
Novolipetsk Steel, based in Lipetsk, 438 km southeast of Moscow, also said its gross profit climbed 26% to $3.74 billion while operating profit gained 34% to $2.99 billion and earnings before interest, taxes, depreciation and amortization (EBITDA) were up 28% $3.37 billion.
The integrated steel-making company produces pig iron, slabs, hot-rolled, cold-rolled, galvanized, pre-painted, and grain- and non-grain-oriented steel.
Vladimir Lisin, the chairman of the company's board of directors, controls 84.6% of Novolipetsk Steel's stock.
