Dniprospetsstal Posts Net Income of USD 69.3 mln in 2007
9 January 2008
According to Ukrainian News, Dniprospetsstal (DNSS: HOLD) posted a net income of UAH 350 mln (USD 69.3 mln) in 2007, which is 78% higher than last year. No other P&L financials are available. Eugene Cheviachenko: 2007 net income turned out to be 22% below our expectations. Although the company might use tax optimization, the reported net income looks suspicious to us as it implies that in 4Q07 the company’s net income only amounted to USD 4.4 mln. We will keep tracking the situation to clarify the issue.
