Russian mining and steel group Mechel has announced its consolidated financial results for the first half of the current year. In the first half, Mechel saw a net profit of RUB 8.3 billion ($127.58 million) compared to a net loss of RUB 16.74 billion in the first half of 2015. In the first half this year, Mechel's sales revenues remained stable year on year at RUB 130 billion ($1.99 billion). In the same period, the company's operating income increased by 23 percent to RUB 17.2 billion ($264.39 million) compared to the same period of the previous year.
The revenue of Mechel's mining segment from external customers in the first half of the current year totaled RUB 40 billion ($615.69 million), down seven percent, while its steel segment's revenue from external customers in the same period amounted to RUB 77.6 billion ($1.19 billion), up five percent, both compared to the corresponding period of 2015.