Russia's AvtoVAZ doubles first-half net profit

Old 10-25-2011, 07:45 AM
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Default Russia's AvtoVAZ doubles first-half net profit



Russia's largest carmaker AvtoVAZ said its net profit more than doubled in the first six months of 2011 compared to the same period a year ago.

AvtoVAZ's first half net profit came in at 6.4 billion rubles ($208.98 million), while its revenue rose 40 percent to 82.2 billion rubles, the automaker said on Tuesday.

AvtoVAZ, 25 percent owned by France's Renault SA , has been the chief beneficiary of a government program that rewards drivers with a 50,000 ruble ($1,78 trade-in on new models.

Read more: http://www.autonews.com/apps/pbcs.dl...#ixzz1bnTb4rgt
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