Russian auto giant's 2002 net losses skyrocket

The Russian automaker KamAZ's 2002 net losses amounted to RUR910.86m (about $29.49m) against RUR28.647m ($927,387) in net losses in 2001, the company reported. This estimate was made in accordance with international accounting standards (IAS). Also, the company's net revenue came to nearly RUR24.412bn ($790.29m) in 2002 against RUR25.716bn ($832.5m) in 2001.

Meanwhile, the company's 2002 gross profit went up to some RUR4.467bn ($144.6m), gaining 27.8 percent against the year 2001. The operating profit slipped by 13.8 percent and totaled nearly RUR1.581bn ($51.18m).

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