Russia AvtoVAZ expects flat 2011 net profit

Newswire

MOSCOW, Aug 24 (Reuters) - The head of AvtoVAZ , Russia's biggest carmaker, said on Wednesday that it expected flat net profit for 2011, the first time it has indicated its earnings outlook for the year. Igor Komarov told reporters the net profit for this year is seen at between 3.5 billion roubles ($123.5 million) and 3.6 billion roubles to Russian Accounting Standards, after the carmaker swung to a 3.6 billion rouble 2010 profit. "We expect at least the same profit to international ...

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