KIEV, March 31 ??“ System Capital Management, Ukraine??™s largest financial and industrial conglomerate owned by the country??™s wealthiest man Rinat Akhmetov, reported $1.07 billion profits on sales of $4.19 billion in 2004, the company said.

The company, also known as SCM, said the released figures for the first time reflect the company??™s finances based on international reporting standards and had been checked by PricewaterhouseCoopers.