Russia's Norilsk Nickel says H1 net profit to exceed $1.4 bln

MOSCOW, Sept 21 Fri Sep 21, 2012 11:00am EDT

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MOSCOW, Sept 21 (Reuters) - Russia's Norilsk Nickel , the world's largest nickel and palladium miner, expects its first-half net profit to exceed $1.4 billion, the company said on Friday.

According to preliminary results, its first-half revenue will exceed $5.9 billion, while earnings before interest, taxation, depreciation and amortisation (EBITDA) will reach $2.5 billion, Norilsk added.

It did not provide updated data for the first half of 2011, when it reported net income of $1.8 billion and revenue at $7.3 billion.

"Despite macroeconomic headwinds in the first half of 2012, the company has managed to safeguard solid profitability and demonstrate efficient cost management," Norilsk said on Friday. (Reporting by Polina Devitt, Editing by Alexei Anishchuk)

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