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    Severstal revenues fall 27.4% in 1H06 y-o-y, to $2.66 bln

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    MOSCOW, August 15 (RIA Novosti) - Severstal [RTS: CHMF], Russia's No. 1 steelmaker, said Tuesday its revenues calculated to Russian Accounting Standards fell 27.4% in the first six months of 2006 year-on-year, to 72 billion rubles ($2.7 bln).

    The company's gross profit fell 24.5% in the reporting period, to 22.1 bln rubles ($810 mln) while pre-tax profit declined 25.5%, to 18.6 bln rubles ($688 mln).

    Severstal's net profit fell 27.6% year-on-year, to 13.7 bln rubles ($503 mln).

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