AvtoVaz reports impressive profits
Russian automaker AvtoVaz reported its net profit in the first half of 2012 grew to 4.3 times that for same period last year, and amounts to 27.4 billion rubles, the company said Friday, RIA Novosti reported.
This figure was higher than the forecast by the Prime business news agency, which predicted a profit of about 1.4 billion rubles.
Group revenue, meanwhile, increased by 8.5 percent, to 89.2 billion rubles.
EBITDA for the first six months of 2012 increased by 23 percent, to 5.4 billion rubles.
AvtoVaz is among the largest carmakers in Eastern Europe, producing more than 800,000 cars per year and employing about 66,000 people.
Here we are to serve you with news right now. It does not cost much, but worth your attention.
Choose to support open, independent, quality journalism and subscribe on a monthly basis.
By subscribing to our online newspaper, you can have full digital access to all news, analysis, and much more.
You can also follow AzerNEWS on Twitter @AzerNewsAz or Facebook @AzerNewsNewspaper
Thank you!