Mechel’s shares increasing in price almost 5% after the report for the first half
Shares of “Mechel” on Masuria on Wednesday increasing in price almost 5% after the release of IFRS results for the first half year, which indicates an improvement in the financial performance of the company.
Thus, the net profit of the group for the reporting period decreased by 6% to 4.7 billion rubles, but EBITDA grew by 3% – to 41.4 billion roubles. Operating profit increased by 6%, reaching 32.6 billion rubles. Consolidated revenue rose 5% to 157,04 billion.
As explained by the company’s management, the financial indicators associated with successful implementation of strategies to increase in production and sales of the share of high-margin products, and favorable market conditions.
It can be expected that due to the strong financial results for the first half of the shares of “Mechel” can add another 1.5 to 2.5%.
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