OREANDA-NEWS. OAO Nizhny Tagil Iron and Steel Plant (NTMK), a part of Evraz Group S.A. (LSE: EVR), filed financial results with the Federal Financial Markets Service of the Russian Federation (FFMS) for the three months ended September 30, 2006. The results are prepared in accordance with Russian accounting standards (RAS).

According to the press service of Evraz Group S.A., the net profit of NTMK for the third quarter of 2006 went up 95.7% as compared with the third quarter of 2005 and has made 5 billion 169 million roubles as a result of increased sales volumes and stronger prices in the domestic and export markets while the increased costs for iron ore were partially offset by lower prices for coking coal year-on-year.  Growth of the net profit made 18.1% as compared with the second quarter 2006 (4 billion 377 million roubles).

The gross profit of NTMK increased by 71.2% as compared with the third quarter 2005 and made 7 billion 997 million roubles. Growth of the gross profit as compared with the second quarter of 2006 (7 billion 306 million roubles) made 9.5%.

Sales profit increased by 83,8% as compared with the same period last year and by 10.5% as compared with the second quarter of 2006 and has made 7 billion 197 million roubles.

The revenues of NTMK in the third quarter of 2006 made 20 billion 236 million roubles having increased by 25,8% as compared with the same period last year (16 billion 89 million roubles) and by 8,1% as compared with the second quarter of 2006, which totaled 18 billion 723 million roubles.