Net profit booked by Zavolzhsky Motor Plant (ZMZ), a unit of carmaker and Fiat/Ssangyong importer/assembler Sollers, rose about 60% year on year to RUB177.711m ($US3.8m) in the first half of 2010, the company said in a report.

Accounting standards used were not provided, news agency Prime-Tass noted.

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Revenue increased 34.1% to RUB3.229bn while cost of goods sold rose 27.1% to RUB2.721bn and the sales loss narrowed 97.5% to RUB3.176m. Pretax profit increased about 60% to RUB240.346m.

Payables rose 2% in January–June to RUB997.401m as of 1 July, while receivables fell 5.6% to RUB3.863bn, the automaker added. 

 

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