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SCM Posts IFRS Sales of USD 5.7 bln

SCM Posts IFRS Sales of USD 5.7 bln

3 November 2008

System Capital Management (SCM) posted gross consolidated sales of USD 5.7 bln for 2005, according to IFRS, up 36% yoy. At the same time, the company’s consolidated net income declined by 33%, to USD 0.96 bln. SCM’s consolidated total assets comprised USD 7.2 bln for the period, an increase of 39% yoy. At the end of 2005, SCM employed 160,000 people. Rinat Akhmetov is SCM’s majority shareholder with 90% of its shares.

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