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Russian 2nd Largest Steel Plant Severstal Drops 90% in Q1 Profit
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2013-05-28
Due to global economic recession, Severstal earned only USD 44 million profit in Q1 of 2013, a 90% drop compared to 2012. The company's pre-tax earning in Q1 was USD 425 million, a drop of 25% compared to 2012. Revenue was USD 3320 million, dropping 10%.
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