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Chelyabinsk Zinc Increased Profits for 2009
Russia’s top producer of the anti-corrosive metal, Chelyabinsk Zinc Plant (CHZNq.L) (CHZN.MM) shares good profit return from 2008 loss. Chelyabinsk Zinc said that their net profit in 2009 was 643 million roubles ($21.94 million), compared to their loss of 3.52 billion roubles in 2008.
The press release is quoted as saying:
“The […]
Chelyabinsk Zinc Increased Profits for 2009
Russia’s top producer of the anti-corrosive metal, Chelyabinsk Zinc Plant (CHZNq.L) (CHZN.MM) shares good profit return from 2008 loss. Chelyabinsk Zinc said that their net profit in 2009 was 643 million roubles ($21.94 million), compared to their loss of 3.52 billion roubles in 2008.
The press release is quoted as saying:
“The main reasons for this improvement are the decreased cost of sales and substantially lower one-off adjustments (asset write-downs and impairment charges) compared to the previous year.”
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