RUSSIA: Gorky auto plant turns to profit from loss

By Graeme Roberts | 27 October 2011

Russia’s Gorky Automobile Plant (GAZ) posted a net profit of RUB481.1m in January–September against a net loss of RUB296.1m a year earlier, as calculated under Russian Accounting Standards (RAS), according to company documents seen by the Prime news agency.

The company’s net profit fell 74.9% year on year to RUB139.3m in July–September.

GAZ, located in the Nizhny Novgorod region, is the main plant of Russian auto manufacturer GAZ Group.