UES' IFRS net profit up 25% in 6M06
December 6, 2006 RIA Novosti
Unified Energy System [RTS: EESR] posted a 25% year-on-year increase in IFRS net profit in January-June 2006, to 27.2 billion rubles, or $1.04 billion, the Russian electricity monopoly said Tuesday.
The company said year-on-year net profit growth of 5.3 billion rubles ($202.2 million) is due to higher profits from core activities, which rose 6.6 billion rubles ($251.8 million) in the reporting period, and to lower financial expenditure, which declined by 1.6 billion rubles ($61 million).
UES also said net profit of minority shareholders climbed 25% year-on-year in the reporting period, reaching 7.1 billion rubles ($271 million).
Company — RAO UESR
Full nameOpen Joint Stock Company RAO UES of Russia