Russia Kamaz posts 1.8 bln rouble net profit in 2011

MOSCOW Thu May 10, 2012 8:09am EDT

MOSCOW May 10 (Reuters) - Russian truckmaker Kamaz swung to a net profit of 1.8 billion roubles ($59.16 million) in 2011 after a 889 million rouble net loss in the previous year.

The company's CEO Sergei Kogogin earlier estimated 2011 earnings stood at around 1 billion roubles.

German autos group Daimler has an 11 percent stake in Kamaz. ($1 = 30.4245 Russian roubles) (Reporting by Gleb Stolyarov; Writing by Maria Kiselyova; Editing by Andrey Ostroukh)

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