MOSCOW, October 29 (RIA Novosti) - Russia's largest truck producer, KamAZ, announced on Thursday net losses under International Financial Reporting Standards of 1.8 billion rubles ($60 million) in January-June 2009.
KamAZ, based in the Volga Republic of Tatarstan, posted a net profit of 2.63 billion rubles ($82 million) in the same period last year.
Revenues in the reporting period declined 49.4% to 25.42 billion rubles ($847 million), KamAZ said in a statement.
KamAZ has suspended production several times since the beginning of 2009 amid declining sales caused by the ongoing economic crisis, putting workers on forced holidays.
KamAZ is the world's 11th largest truck maker and the eighth largest producer of diesel engines globally. KamAZ has 96 plants in Russia, Poland, Kazakhstan, Azerbaijan, Vietnam, and Ethiopia.
In January-June 2009, KamAZ produced some 10,900 trucks. In September, some 2,800 trucks were produced by the company. Earlier company officials said KamAZ was expected to sell about 28,000 trucks in 2009, while 47,500 trucks were sold in 2008.
