Aug 29 (Reuters) -

Russian steelmaker Severstal posted a 11% year-on-year drop in net profit for the first half of this year on Tuesday, as revenue fell 10% due to lower prices, it said in a statement.

The company's profit stood at 105.3 billion roubles ($1.1 billion) in January-June. Capital expenditures fell 5%, while sales of steel products grew 9% in physical terms.

(Reporting by Reuters)