Russia’s Mechel says Q4 net profit at 443 mln roubles

Russian metals and mining group Mechel said on Thursday its net profit totalled 443 million roubles ($7.69 million) in the fourth quarter, down 93 percent from the previous quarter.

Mechel said revenue increased 4 percent quarter-on-quarter to 76.32 billion roubles, while earnings before interest, taxation, depreciation and amortisation (EBITDA) were up 16 percent to 21.97 billion roubles.

For the whole of 2017, Mechel made 11.56 billion roubles in net profit, a 62 percent increase from 2016, it said.

The company said it planned to further increase capital investment in 2018 after increasing spending by more than 25 percent to 11 billion roubles in 2017.
Source: Reuters (Reporting by Andrey Ostroukh Editing by Jack Stubbs)


Create Account

Log In Your Account