Bloomberg News

Norilsk Climbs Most in Two Weeks in U.S. on 2011 Income Gain

June 06, 2012

OAO GMK Norilsk Nickel rose the most in two weeks in U.S. trading after the company said its net income increased 9.3 percent in 2011 from 2010.

American depositary receipts of Norilsk gained 3 percent to $15.18 in New York, the most since May 21. The Bloomberg Russia- US Equity Index (RUS14BN) of the most-traded Russian companies listed in the U.S. jumped 4 percent to 83.48.

The company, world’s largest producer of nickel and palladium, said net income attributable to shareholders rose to $3.6 billion in 2011 from $3.3 billion in 2010, according to a statement on its official website today.

The company’s revenue from sales of nickel increased 4 percent to $6.72 billion in 2011 while its revenue from copper added 11 percent to $3.26 billion. Revenue from palladium sales gained the most, jumping 34 percent to $1.99 billion in 2010, gold sales climbed 20 percent to 194 million and platinum sales rose 5 percent to $1.15 billion, according to the statement.

To contact the reporter on this story: Halia Pavliva in New York at hpavliva@bloomberg.net

To contact the editor responsible for this story: Tal Barak Harif at tbarak@bloomberg.net


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