Russia's Mechel posts 58% rise in IFRS net income for 2006

Analysis

Mechel, a leading Russian mining and metals company, said Thursday its net income calculated to International Financial Reporting Standards (IFRS) increased 58.3%, year-on-year, in 2006 to $603.2 million.

Mechel, which unites producers of coal, ore, nickel, steel and highly processed steel products for the domestic and foreign markets, said its revenues grew 15.6% in the reporting period, to $4.4 billion. Mechel is included in the Russian Industrial Leaders Index RUXX, a composite economic index of 21 Russian companies with financial instruments traded on bourses, including the New York Stock Exchange, the London Stock Exchange, Nasdaq and AMEX. (en.rian.ru)

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