Yuzhuralnikel 3Q Net Profit Down 59%
OREANDA-NEWS. Yuzhno-Uralsky Nickel Plant (Yuzhuralnikel, a subsidiary of Mechel) have gained 1 075 mn RUR of net profit over 3Q 2007. According to Veles Capital's information service, this value is 59.17% below 2Q 2007. One of reasons to bring down net profit named by company is drop of nickel sale price. Obviously, world price of nickel over 3Q lost 37% below average level of prior quarter. However, for 9 months 2007, the company earned 5.9 bn RUR, exceeding past year's similar period result by 3.5 times, while backed by growth of oil prices at 88%. Hence, according to the experts, published results do not look that negative.
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