NLMK posts higher 2006 net profit

The net profit of Novolipetsk Steel (NLMK) under US GAAP surged 50 percent to $2.066bn in 2006 compared to a year earlier, the company's official documents state. Revenue stepped up 38 percent to around $6.046bn. Gross profit climbed 45 percent to $2.971bn and operation profit went up 22 percent to $2.243. The company's EBITDA grew 26 percent to $2.631bn and EBITDA margin amounted to 44 percent (against 48 percent in 2005).