Severstal IAS consolidated net profit falls 52.4% in 1H06

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MOSCOW, September 7 (RIA Novosti) - Severstal [RTS: CHMF] said Thursday its consolidated net profit calculated to International Accounting Standards (IAS) fell 52.4%, year-on-year, in the first half of 2006 to $411.99 million.

Russia's No. 1 steelmaker said its sales dropped 4% in the reporting period to $3.99 billion, and its gross profit declined 33.3% to $1.27 billion.

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