OMZ Group announced the financial results for the 1H of 2011

OMZ Group, one of the leading Russian heavy industry companies, has announced the non-audited IFRS financial results for the 1st half of 2011.

Key financial highlights:

• Consolidated revenue of the Group for the 1st half of 2011 has increased by 64.5% compared to the same period of the previous year, amounting to 464 786 thousand US dollars;

• Consolidated gross profit has increased by 48.2% compared to the 1st half of 2010, amounting to 88 577 thousand US dollars;

• Profit before income tax (EBIT) has increased by 39% compared to the 1st half of 2010 to 27 619 thousand US dollars;

• Net consolidated profit has amounted to 33 355 thousand US dollars.