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    Severstal net profit in 2005 down 13.3% to $1.24 billion

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    MOSCOW, March 31 (RIA Novosti) - Russia's largest steel company, Severstal, recorded a 13.3% year-on-year fall in net profit in 2005 to total 34.312 billion rubles ($1.24 billion), the company's annual financial statements under Russian Accounting Standards said Friday.

    Severstal's earnings for the period grew 9.7% to 143.11 billion rubles ($5.15 billion), gross profit decreased by 10.3% to 53.38 billion rubles ($1.92 billion), and sales profit fell 11.9% to 50.4 billion rubles ($1.82 billion).

    Severstal is one of the world's top twenty metal companies.

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