OREANDA-NEWS. Chelyabinsk Zinc Plant (LSE, MICEX-RTS: CHZN), Russia's largest producer of zinc and zinc alloys, is pleased to announce its IFRS financial results for the six months ended June 30, 2015.

H1 2015 consolidated revenue increased by 79% to RUB 12,036 mln as compared to H1 2014.

The average LME zinc price in H1 2015 increased by 4% as compared to the relevant period of the previous year and amounted to USD 2,134/tonne. The average LME lead quotes decreased by 1% to USD 1,873 /tonne. Positive effect on revenue was made by the growth of exchange rates (US Dollar, Pound Sterling, Kazakhstan Tenge) against the Russian Rouble.

In H1 2015, revenue of CZP increased by 98% as compared to the H1 2014 and amounted to RUB 8,017 mln (H1 2014: RUB 4,040 mln). The growth of revenue was due to 64% increase of US dollar/Russian Rouble exchange rate (H1 2015: RUB 57.4; H1 2014: RUB 35.0), increase of sales on the domestic markets by 17% (H1 2015: 49.2 thousand tonnes; H1 2014: 41.9 thousand tonnes) and sales of precious metals (in H1 2014 there were no sales).

Revenue of The Brock Metal Company Limited for H1 2015 amounted to RUB 2,949 mln, 100% higher than in H1 2014 (RUB 1,472 mln). This increase was due to 50% growth of Pound Sterling/Russian Rouble exchange rate (H1 2015: RUB 87.8; H1 2014: RUB 58.6) and 23% growth of zinc alloys sales (H1 2015: 19.5 thousand tonnes; H1 2014: 15.9 thousand tonnes).

Revenue of Nova Zinc for H1 2015 increased by 36% compared to H1 2014 and amounted to RUB 290 mln (H1 2014: RUB 213 mln). The increase was due to 56% growth of Kazakhstan Tenge/Russian Ruble exchange rate (H1 2015: RUB 0.31; H1 2014: RUB 0.2).

Net profit for H1 2015 totalled RUB 3,129 mln compared to RUB 925 mln for H1 2014. The main factors of net income growth were the Russian Rouble devaluation, growth of zinc and zinc alloys sales on Russian domestic market and also the reversal of previously accrued impairment loss of LLP "Nova Zinc" main assets.