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Russian MMK’s Q1 sales revenues soar by 8.1% y-o-y
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Russian steelmaker Magnitogorsk Iron & Steel Works (MMK) announced that its sales revenues totaled US$2.425 billion in the first quarter of this year, rising by 8.1% year on year, driven by recovered demand from export markets and better steel prices.
In the first quarter of this year, MMK’s cost of goods sold amounted to US$2.099 billion, increasing by 5.6%; its operating margin was at US$33 million, remaining flat and its net profit after tax was at US$293 million, surging by 44.3%, all compared to that in the same period of a year earlier.
News Date
6/25/2012 1:51:48 PM
reported by
Nann Cheng
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