SCM reports consolidated PBT of USD 3 bln in 2008

System Capital Management, the largest company in Ukraine, yesterday announced in a press release on its website its key 2008 IFRS financial results. SCM increased its consolidated profit before tax from USD 1.79 bln in 2007 to USD 3.0 bln in 2008, and its gross income from USD 9.56 bln in 2007 to USD 15.99 bln in 2008. The group’s assets amounted to USD 18.1 bln as of end-2008, vs. USD 19.9 bln as of end-2007. SCM is the managing company of SCM Group, which includes Metinvest Holding, DTEK, VegaTelecom Group, Segodnya Multimedia, and TRK Ukraina.