Russia's UAZ owner 2003 profits soar 80 pct

Newswire

MOSCOW, March 17 (Reuters) - Profits at Russian autos group SeverstalAvto soared by 80 percent in 2003 on cost cutting and model renewal at its main off-road vehicle unit, Interfax agency reported the firm's chief executive as saying on Tuesday. CEO Vadim Shvetsov said the company expected to announce IAS net profits of 1.43 billion roubles ($50 million) for last year, with sales growing 36 percent to 19.5 billion roubles. EBITDA was seen rising 24 percent to 2.42 billion roubles. ...

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