OREANDA-NEWS  On 06 November was announced, that the Azovmash company (AZGM) ended July-September with a net profit of UAH 0.601 million.

The company's net income dropped 20.36% or UAH 4.88 million at UAH 19.087 million in July-September compared with April-June.

The net income grew 46.13% or UAH 6.025 million to UAH 19.087 million in July-September against the same period last year.

In January-September the company earned a net profit of UAH 1.808 million having reducing a net income by 19.67 or UAH 15.18 million to UAH 61.997 compared with the same period 2007.

The company produced a net profit of UAH 0.6 million in April-June having boosted a net income by 130.8% or UAH 13.585 million to UAH 23.967 million compared with the same p[period last year. Azovmash reported a net profit of UAH 2.257 million for the year 2007, its net revenues rose by UAH 189.852 million or 66.9% to UAH 93.977 million compared with 2006.

Azovmash was established in 2000 as a managing company for Ukraine's largest producers and developers of railcars and heavy machinery (the Mariupol heavy machinery factory, Azovzahalmash, the Mariupol thermal factory, and the Main Specialized Design and Technological Institute).

The state owns a 50% stake plus 1 share in Azovmash (the state's stake in it is managed by the State Property Fund), while the Ukrainian Industrial and Transport Company owns a 50% minus 1 share.