Severstal-Avto's year net profit up on SUV sales

Newswire

MOSCOW, April 25 (Reuters) - Russian carmaker Severstal-Avto reported on Wednesday its net profit rose 24 percent in 2006 on a 31 percent increase in revenue due to rising sales of its Patriot sport utility vehicle. The firm's stock rose by 5 percent on the MICEX bourse following the release of the results, based on international accounting standards. The company said it posted a net profit of $67 million last year on revenue of $1.23 billion. Earnings before interest, tax, depreciation ...

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