KamAZ Jan-Sept net loss balloons 350 pct to $89.2 mln

Russia’s largest truck maker KamAZ saw its net loss widen 350 percent in January-September 2011 year-on-year to 2.723 billion rubles ($89.2 million), the company said in a statement on Friday.

Revenue increased 40 percent in the first nine months of 2011 to 72.682 billion rubles, while the gross margin rose to 4.555 billion rubles from 4.838 billion rubles in January-September 2010.

The company made 37,800 vehicles as of October 31, a 35 percent increase year-on-year. Sales of spare parts grew 30 percent to 10.5 billion rubles in the first ten months of the year.


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