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18 April 2007
Ukraine Dneprometiz Net Profit Jumps 50.9 Pct 2006
Ukrainian metal producer Dneprometiz increased its net profit by 50.9 pct on the year to 11.3 mln Ukrainian hryvnias ($2.2 mln/1.6 mln euro) in 2006, the company said. The pre-tax profit rose by 39.3 pct to 15.7 mln hryvnias ($3.1 mln/2.3 mln euro), as net revenue grew to 345.7 mln hryvnias ($68.4 mln/50.3 mln euro) from 217.1 mln hryvnias ($42.9 mln/31.6 mln euro) in 2005.
Dneprometiz plans to carry out a three-year renovation programme worth 45 mln hryvnias ($8.9 mln/6.8 mln euro) to back an output rise to 200,000 tonnes in 2010 from 125,000 tonnes in 2006.
The overhaul will feature facility upgrade, introduction of new product lines, optimisation of support activities and energy efficiency projects.
Dneprometiz (www.dneprometiz.com.ua) is majority owned by Russian Severstal-Metiz, which controls 60 pct plus one share of the company.
Energy and Commodities Digest
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