MMK's profit was $417 million

At the third quarter of 2016 Magnitogorsk Metallurgical Combine had a profit at the rate of $417 million. Such a large amount of income is due to the fact that the company managed to reduce costs. Also in the third quarter were sold the remnants of the shares Fortescue Metals Group. Net profit turned out on 26.7% higher in the third quarter than in the second. Earnings before the interest showed an increase on 17%. Profitability of EBITDA is 44.2%.