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Article: Kazakh miner ENRC halves revenue in H1, says outlook improving (Part 2).
- Article from:
- Russia & CIS Business and Financial Newswire
- Article date:
- August 19, 2009
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Kazakh miner ENRC halves revenue in H1, says outlook improving (Part 2)
ALMATY. Aug 19 (Interfax) - Eurasian Natural Resources Corporation (ENRC) halved sales revenue in the first half of 2009 but the London- listed Kazakh miner said progress with the group's performance seen in Q2 ought to be sustained in the coming months.
ENRC said revenue fell to $1.7 billion in the first half of 2009, from $3.4 billion in the same period of last year. Underlying EBITDA was $0.6 billion, down 71% from $2.2 billion.
Net profit fell to $562 million in H1 2009, from $1.366 billion in H1 2008. Assets decreased during the half to $8.572 billion from $10.014 ...