Russia's Norilsk Nickel returns to profit in H1 -CEO

ST PETERSBURG, Russia, June 5 (Reuters) - Russian mining giant Norilsk Nickel (GMKN.MM) returned to profit in the first half of 2009 after posting its first ever loss in 2008 due to writeoffs, Chief Executive Vladimir Strzhalkovsky said on Friday.

"But the situation could get worse, so the little bit of fat we had in the second quarter could be devoured in the third and fourth quarters," Strzhalkovsky said.

The planned sale of utility assets could finance an acquisition in Russia to expand its core business, he said.

"The funds from the sale of utility assets could be spent on the purchase of a certain core asset," he said, without naming his target. (Reporting by Polina Devitt; writing by Melissa Akin; editing by Robin Paxton)