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NorNickel metals giant 2005 net profits up 13.7%, to $2.16 bln

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MOSCOW, May 15 (RIA Novosti) - Norilsk Nickel (RTS: GMKN, LSE: MNOD) announced Monday its net profits for 2005 calculated to Russian Accounting Standards had risen 13.7% year on year to 58.159 billion rubles ($2.16 billion).

The metals giants' earnings for 2005 increased 4.7%, to 171.137 bln rubles ($6.35 bln), while gross profit increased 14.7%, to 108.452 bln rubles ($4.02 bln).

Sales profits also grew 14.7%, to 97.565 bln rubles ($3.62 bln), while pre-tax profits were up 14.6%, to 80.835 bln rubles ($3.00 bln).

Also Monday, the company announced a net loss to Russian Accounting Standards of 22.634 billion rubles ($840 million) for 1Q06, against a net profit for the same period last year of 15.337 bln rubles ($569 mln).

Norilsk Nickel is included in the RUXX (Russian Industrial Leaders Index), a new composite economic index of Russian companies with financial instruments (shares and depository receipts) placed on major world trading floors, including the New York Stock Exchange, the London Stock Exchange, Nasdaq and AMEX.

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