OREANDA-NEWS. Evraz Group earned 1.162 bn USD of net profit in 1H 2007 (excluding minority interest – 1.126 bnUSD), calculated in accordance with IAS, which is 91.1% (98.2%) above results of 1H 2006, the press service of Veles Capital, an investment company, reported.

According to the group’s message, sales of reported period amounted to 6.023 bn USD (growth of 57.5%), EBITDA – 2.05 bn USD (growth of 87%). Most important factor to support the growth of company’s income is the growth of sales prices. Backed by a relatively humble growth of operating results over the steel segment, the growth of steel prices around the world made up 10-15%. The dynamics of operating results of the mining segment was more impressive (10 to 24%), while price conditions were even better (growth of 1H 2007 prices amounted to over 40% compared to the similar period of 2006). Veles Capital's experts see the published results positive for Evraz business, still recommending “buy” for shares of the company.