Russian truckmaker Kamaz 2013 net profit tumbles by a third
MOSCOW, March 7
MOSCOW, March 7 (Reuters) - Russian truck maker Kamaz's 2013 net income fell 31 percent to 4 billion roubles ($110.7 million), hurt in part by a decline in sales.
Kamaz, which is 11 percent owned by German auto group Daimler, has faced headwinds as key customers in construction and heavy industry have been forced to scale back production and cancel projects.
Sales fell 5 percent in 2013 to 110.7 billion roubles, figures provided by the company showed.
But the truck maker also said that its share of the domestic truck market, where Belarusian MAZ is one of its main competitors, rose to 45 percent from 33 percent a year earlier.
($1 = 36.1367 Russian roubles) (Reporting by Vldaimir Soldatkin; Editing by Lidia Kelly and Edwina Gibbs)