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Kamaz returns black, posting 1H 2011 Net profit of 87 million roubles

Kamaz returns black, posting 1H 2011 Net profit of 87 million roubles
Kamaz, Russia’s leading truck maker, has posted a net profit of 87 million roubles for 1H 2011 under IFRS.

The bottom line saw a turnaround from a net loss of 397 million roubles posted for the same period last year,on the back of revenues also increasing to 44.2 billion roubles from 31.9 billion roubles a year earlier.

The company says the turnaround in net result was mostly due to increased revenues, coupled with lower finance costs.Truck and component sales provided for the biggest part of revenues growth, up 46.6%.to 29.7 billion rubles.

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