Automaker GAZ Consolidated Earnings Up 30% in 2007 to $6 Billion

Russian auto maker GAZ Group [RTS: GAZA] increased consolidated earnings by 30% year-on-year in 2007 to over 154 billion rubles ($6 billion), the company said on Monday.

Consolidated revenue from commercial car sales grew by more than 22% year-on-year to 49 billion rubles ($2 bln), while earnings from light and medium truck sales gained 32% to reach 10.4 billion rubles ($400 million).

The company grossed 19.1 billion rubles ($766 million) from bus sales in 2007, 25% more than the previous year.

GAZ supplies vehicles to 29 countries in the former Soviet Union, Central Europe, Southeast Asia, Africa, Latin America and the Middle East, and produces around 200,000 vehicles annually.

Source RIA Novosti

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