Novolipetsk Steel posts US GAAP-based net profit

The net profit of Novolipetsk Steel under US GAAP went up 12.98 percent to nearly $1.064bn in the first six months of 2007, the company's official documents state, RBC reports. Revenue climbed 41.98 percent to $3.609bn. The company's gross profit amounted to $1.748bn, which is 52.42 percent greater than in the first half of 2006. Operating revenue stood at $1.384bn having climbed 50.17 percent. EBITDA soared by 59 percent to almost $1.571bn.