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TNK-BP Holding posts weaker performance
RBC, 16.05.2008, Moscow 09:32:34.The RAS-based net profit of TNK-BP Holding shrank by 2.4 times to RUB 119.4bn (approx. USD 4.88bn) in 2007 compared to 2006, the company indicated in its report. The holding's revenue inched down 1.6 percent to RUB 400.77bn (approx. USD 16.8bn), while the cost of sale dropped 14.7 percent to RUB 291.43bn (approx. USD 12.22bn). Gross profit went down 23.6 percent to RUB 109.4bn (approx. USD 4.59bn), and sales revenue tumbled 27.7 percent to RUB 64.1bn (approx. USD 2.69bn). Pre-tax profit decreased by 2.6 times to RUB 60.6bn (approx. USD 2.54bn). Short-term liabilities under RAS edged up 5 percent to RUB 402.4bn (approx. USD 16.87bn) as of December 31, 2007, including short-term accounts payable of RUB 292.8bn (approx. USD 12.28bn), up 14.2 percent from the previous year's showing.
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