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Norilsk Nickel's 1H08 net profit down 33% to $2.68 bln

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MOSCOW, October 3 (RIA Novosti) - Russian metals giant Norilsk Nickel said on Friday its net profit calculated to International Financial Reporting Standards (IFRS) declined 33% year-on-year to $2.68 billion in the first half of 2008.

Revenue increased 5.4% to $8.31 billion in the reporting period.

Norilsk Nickel accounts for more than 20% of global nickel output, more than 10% of cobalt production and 3% of copper. Its nickel output increased almost 13.8%, year-on-year, to 143,400 metric tons in January-June 2008.

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