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Article: Chelyabinsk Zinc reduces IFRS losses to 136 mln rubles in H1.
- Article from:
- Russia & CIS Business and Financial Newswire
- Article date:
- October 29, 2009
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Chelyabinsk Zinc reduces IFRS losses to 136 mln rubles in H1
MOSCOW. Oct 29 (Interfax) - Chelyabinsk Zinc Plant (RTS: CHZN) closed the first half of 2009 with net losses of 136 million rubles to International Financial Reporting Standards (IFRS) , compared with losses of 907 million rubles in the same period of last year, the company said.
The losses were caused partly by lower zinc prices on the LME and a revaluation of assets.
Sales revenue fell 37% to 3.542 billion rubles from 5.664 billion rubles, due to lower zinc production and sales.
EBITDA fell to 543 million rubles from 575 million rubles.
Costs fell from 5.1 billion ...