Russian automaker Ulyanovsk Automobile Plant (UAZ), controlled by Ford’s local partner Sollers, posted a net profit of RUB70.8m (US$2.3m) in the first quarter of 2012 versus a net loss of RUB251.6m a year ago, the company said in a statement.

Revenue rose 13% to RUB5.983bn and production costs rose 17% to RUB5.542bn, Prime News reported.

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Sales profit sank 28.4% to RUB125m. The company posted a pretax profit of RUB88.7m rubles, a year ago it had booked a pretax loss of RUB222m.

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