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Russian steelmaker Severstal reports $214 mln profit in Q2

SEVERSTAL
SEVERSTAL  - Sputnik International
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Russian steelmaker Severstal posted a net profit of 6.7 billion rubles ($213.8 million), calculated to Russian Accounting Standards, in the second quarter of the year compared with a net loss of 10.2 billion rubles ($325 million) in the first quarter.

MOSCOW, July 31 (RIA Novosti) -- Russian steelmaker Severstal posted a net profit of 6.7 billion rubles ($213.8 million), calculated to Russian Accounting Standards, in the second quarter of the year compared with a net loss of 10.2 billion rubles ($325 million) in the first quarter.

It said steel production was up 0.4% quarter-on-quarter to 3.8 million tons in the reporting period.

Rolled steel output fell 1.2% on the first quarter to 2.9 million tons.

Gold production was down 2% at 3.5 tons.

Severstal produces over 16% of Russian steel and has facilities in Russia, the United States, Italy, France, Britain and Ukraine.

 

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