Norilsk Nickel posts net profit for 2002

The net profit of Norilsk Nickel, calculated in compliance with International Accounting Standards, dropped 23 percent to $315m in 2002, the company's report says. Earnings of Norilsk Nickel were down 29 percent at $3.94bn and gross profit fell 32 percent to $1.343bn.

Norilsk Nickel, which is a part of the Interros holding, accounts for over 20 percent of all world nickel production, for more than 10 percent of cobalt production, about 60 percent of palladium and 20 percent of platinum production. Almost all platinum-group metals produced by Norilsk Nickel last year were exported, including 72 percent in exports to Europe.

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