Chelyabinsk Zinc first half net profit up 28 %

Chelyabinsk Zinc Plant, Russia's largest maker of the anti-corrosive metal, saw its first half 2011 net profit jump 28 percent year-on-year to 865.945 million rubles ($27.55 million) to IFRS, the company said on Wednesday. The company's revenues grew 17 percent in January-June 2011 to 6.445 billion rubles. The company's gross profit increased 10 percent to 1.778 billion rubles in the first six months of 2011 while pre-tax profit grew 23 percent year-on-year to 1.077 billion rubles. First half EBITDA rose 8 percent to 1.508 billion rubles from 1.397 billion rubles. The cost of sales grew to 4.667 billion rubles from 3.919 billion rubles.