AutoVAZ posts profits figures

According to the International Accounting Standards (IAS), AutoVAZ's net profits amounted to $575m in 2001, which was 432.4 percent more than in 2000 when net profits were only $108, the report released by the company stated. According to this document, the automobile manufacturing plant's pre-tax profits were $624m compared to $404m in 2000.

As it was earlier reported, the plant manufactured 767,300 cars in 2001, which was 8.8 percent more than in 2000. According to the Russian accounting standards, net profits of the company amounted to 2.346bn rubles ($74.45m) in 2001.

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