Russia car maker GAZ says H1 net flat, sales rise

Newswire

MOSCOW, Nov 21 (Reuters) - Russian auto maker GAZ posted on Wednesday flat first-half 2007 net profit of 3.2 billion roubles ($131.5 million) despite a 33 percent rise in revenues. Revenues, to International Financial Reporting Standards, rose to 67.5 billion roubles from 50.9 billion roubles in the first half of 2006, the company said in a statement. GAZ, 70 percent controlled by tycoon Oleg Deripaska, is based in the Nizhny Novgorod region and as well as saloon cars, makes light ...

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