Metalloinvest clears decks for IPO by unveiling 2007 net profit of $1.2 Billion
Published: 04 August, 2008, 11:50
Russian Mining and Metals holding, Metalloinvest, has unveiled a full year Net Profit for 2007 of $1.2 Billion.
Reporting under IFRS for the first time ahead of an IPO anticipated later this year, the company said the figures were an increase of 140% over the 2006 full year results. Sales for the year came in at $6.67 Bilion, with EBITDA at $2.4 Billion.
The company plans to invest $11.4 Billion over 4 years and increase iron ore output by 50% to 60 million tonnes by 2013.
04.08.2008, 09:52
TNK-BP CFO announces resignationThe Chief Financial Officer of Russian-British oil major TNK-BP is resigning, according to a statement released by the company. |
04.08.2008, 16:51
1 comment
GM consider Hummer sale – to Chinese or RussiansAmerican car giant General Motors is mulling over the future of its Hummer off-road vehicle, including the possibility it could be sold to a Russian or Chinese company. |
