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Gazprom triples net profit in H1
RBC, 02.09.2010, Moscow 11:33:48.Gazprom's net profit under IFRS jumped nearly three times to RUB 336.849bn (approx. USD 10.94bn) in the first half of 2010, the Russian energy holding indicated in an announcement today. Sales revenue climbed 14 percent to RUB 956.816bn (approx. USD 31.07bn). The company's revenue from gas sales inched up a mere 1 percent to RUB 612.830bn (approx. USD 19.90bn) in January-June 2010 compared to H1 2009. According to Gazprom, the change may be attributed to greater sales in all geographical regions, which were partially balanced out by a decrease in settlement prices denominated in rubles (including excise and customs duties) for gas sales in Europe and former USSR countries. Revenue from gas sales to Europe and other countries dropped 22 percent to RUB 286.218bn (approx. USD 9.29bn). Conversely, revenue from gas sales to former USSR countries rose 10 percent to RUB 93.829bn (approx. USD 3.05bn). Operating expenses increased 12 percent to RUB 623.479bn (approx. USD 20.24bn) in the reporting period. Meanwhile, pretax profit surged three times to RUB 421.696bn (approx. USD 13.69bn).
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