MOSCOW, August 5 (RIA Novosti) - Novolipetsk Steel [RTS: NLMK], a leading Russian steel and rolled stock producer, said on Tuesday its revenue calculated to Russian Accounting Standards rose 31% year-on-year in January-June to 97.55 billion rubles ($4.2 bln).
The company based in Lipetsk, 438 km southeast of Moscow, earlier said its net profit calculated to Russian Accounting Standards climbed 120% year-on-year in the first half of 2008 to 44.32 bln rubles ($1.8 bln).
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, chairman of the company's board of directors, owns 84.6% of Novolipetsk Steel's stock.
