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Avtovaz has doubled profit
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Avtovaz has doubled profit
Net profit of AVTOVAZ for the first half amounted to 6.4 billion rubles , showing increased more than 2 times (first 6 months. 2010 - 3.1 billion rubles ). With the increase of sales of Lada cars has increased and the cost of sales: for the first 6 months of 2011 they amounted to 4 billion rubles (first half of 2010 to 2.9 billion rubles ). In the financial statements it is noted that the total profit was formed by: making a profit of 2.1 billion rubles of profit from the activities of subsidiaries - 0.4 billion rubles adjustments in accordance with IFRS -3,9 billion rubles in Addition, AVTOVAZ in the first half of 2011 has signed agreements with the state Corporation "Russian technologies" on the extension of the maturity of the loan. However, AVTOVAZ in the near future is going to take another loan for the purchase of the Izhevsk automobile plant.
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