UPDATE 1-Russia's Severstal-Avto increases sales 36 pct

Newswire

(Adds CFO quotes, details, background) By Anton Doroshev MOSCOW, Sept 29 (Reuters) - Russian automaker Severstal-Avto said on Friday first-half sales grew by 36 percent to $538 million on booming sales of its Patriot sport utility vehicle, pushing up its closely watched mid-cap shares. Its earnings before interest, taxation, depreciation and amortisation (EBITDA) rose 38 percent to $72 million, while net profit grew by a more modest 9 percent to $25 million. "We have managed to get ...

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