In January-March Severniy Mining and Processing Works received 228.9 million UAH of profits, while in the corresponding period of last year it received 875.55 million UAH of losses.
The net income totaled 3220 million UAH, against 3470 million UAH last year.
In 2015 SevGOK received 1212 million UAH of losses, as opposed to 1546 million UAH of profits in 2014.
The rise of the financial result for Q1 can be explained by the increase of the world iron ore prices. At the same time, some experts see this as temporary due to the rise of China and oil prices. Goldman Sachs and Citi believe prices will decrease. (Ukrainian metal)