Belon profit grew by 39%

The Russian company Belon in the I quarter of 2011 compared with the same period of 2010 increased net profit by 39% to 992 million rubles. This was stated in the Group. In turn, revenues increased Belon in a given period by 7% to 5.52 billion rubles. Recall that the company Belon in 2010 compared to 2009 increased the production of coking coal by 20%, to 2.96 million tons. In turn, the proceeds of coal segment was 556 million dollars, and the indicator EBITDA - $ 270 million previously reported that Belon in IV quarter 2010 compared to III quarter net profit under RAS in 5,3 times up to 824.278 million rubles. The financial result of the concern raised by increasing the sales volume of coking coal concentrate. Belon is the largest Russian producer of coal and its products, one of the leaders in the market metallotreydinga in Russia. In mid-October 2009 OAO Magnitogorsk Iron and Steel Works has completed a deal to consolidate the 82,6% of Belon. Ministry of Industry