Russian carmaker GAZ posts 32% rise in revenues in 1H07

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MOSCOW, November 21 (RIA Novosti) - GAZ Group [RTS: GAZA] said on Wednesday its revenues calculated to International Financial Reporting Standards increased 32.4%, year on year, in January-June 2007 to 67.4 billion rubles ($2.7 billion).

GAZ, which exports cars to 35 countries, said EBITDA (earnings before interest, taxes, depreciation and amortization) grew 15.6% in the reporting period to 7.4 billion rubles ($300 million) and gross profit was up 24.4% to 13.3 billion rubles ($541 million).

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