Russia’s largest truck maker KamAZ saw its stock surge more than 5.5 percent to 50,1 rubles per share in Thursday afternoon trading on the MICEX-RTS stock exchange on the company’s strong financial results, according to stock exchange data.
KamAZ, the world's eleventh largest truck maker and the eighth largest producer of diesel engines, posted a net profit of 1.824 billion rubles ($60.4 million) in 2011 after an 889 million ruble ($29.4 million) loss the previous year, the firm said.
The company's revenue rose 44.8 percent last year to 106.83 billion rubles, while gross income increased 48.5 percent to 15 billion rubles. The amount of the company’s short-term and long-term liabilities went down 2.63 percent to 21.5 billion rubles, the truck maker said.
KamAZ has 96 plants that produce more than 30 models of trucks, as well as trailers, buses, tractors and spare parts. It also manufactures engines, power units, and components.