NLMK’s metal goods plant’s net profit plunges 650.82%
According to the financial report of NLMK’s Nizhneserginskiy metal goods plant (complied in accordance with the Russian Accounting Standards), the enterprise’s net profit plunged by 650.82% in 2009. The plant’s sales revenues decreased by 46.82% last year and reached 19.3 million RUR, whereas its gross profit came to 1.9 million RUR. ‘The decrease in revenues and gross profits in the fourth quarter of 2009 in particular in the year 2009 in general by 23% and 46%, respectively, was brought about by reduced sales volumes and decreasing selling prices. This, in its turn, was caused by the