In Q3, Metalloinvest reduced net profit by 2 times due to difference in currency exchange rates
Edited by Rhod Mackenzie / 2014-11-25 04:46:12
In Q3, Metalloinvest reduced net profit by 2 times or by 86.4% to $59 million due to difference in currency exchange rates for the debt in USD.
The results of the Russian leading iron ore producer and supplier Metalloinvest of A. Usmanov appeared to be lower than those of Q2, as awaited, the Vice CEO, the CFO of Metalloinvest P. Mitrofanov says.
Net profit for January – September 2014 was $608 million, by 30.8% less than last year due to difference in currency exchange rates because of ruble devaluation.
