Zaporizhya Ferroalloy’s Sales Up 36.4% yoy, Bottom Line Soars 17x in 2007
23 April 2008
Zaporizhya Ferroalloy (ZFER: HOLD) reported that its sales increased by 36.4% yoy to USD 444.4 mln, net profit up 17x to USD 7.7 mln in 2007. Andriy Gerus: The company’s net sales were 2.2% above our forecast and net income was 86% below our expectation of USD 53.3 mln, which we attribute to tax optimization schemes.
