The Canadian Press reported that Russian zinc producer Chelyabinsk Zinc has posted FY 2010 net profit of RUB 1.414 billion under IFRS.

The net result is up 120% from the FY 2009 net profit of RUB 643 million with FY 2010 EBITDA rising 36% YoY to RUB 2.806 billion as FY 2010 revenues climbed 16% YoY to RUB 11.810 billion.

Chelyabinsk Zinc said that the figures represented a 28% year on year increase in production and 29% YoY increase in sales of zinc and zinc based alloys coupled with a 30% increase in the average sales price which helped to offset 14% decrease in the revenues from zinc and zinc alloys reflecting zinc supplied under a tolling agreement.

(Sourced from the Canadian Press)