18 May 2004 02:40
Novosibirskenergo net profits soar 20-fold in Q1
NOVOSIBIRSK. May 18 (Interfax) - Novosibirskenergo boosted net profit in the first quarter of 2004 to 465.364 million
rubles from 23.209 million rubles a year earlier, the Novosibirsk power utility said on its web-site.
Kornei Gibert, the general director, told Interfax that growth was fuelled by corporate restructuring and money saved
by buying low-cost electricity on the FOREM federal wholesale electricity market.
Novosibirskenergo said revenues grew to 4.427 billion rubles in the first quarter of 2004 from 3.215 billion rubles a
year earlier: electricity sales grew to 2.352 billion rubles from 1.89 billion rubles, and heat sales to 2.008 billion
rubles from 1.258 billion rubles.
The cost of sales grew to 3.68 billion rubles from 2.583 billion rubles, operating profit from 631.677 million rubles
to 744.951 million rubles and profit before tax from 284.971 million rubles to 643.784 million rubles.
Payables increased from 3.157 billion rubles to 3.671 billion rubles during the quarter. Short-term receivables grew
from 1.319 billion rubles to 2.405 billion rubles and long-term receivables were up from 36.307 million rubles to 36.33
million rubles.
Assets increased from 17.921 billion rubles to 18.78 billion rubles during the quarter.
The biggest shareholders as of April 1, 2004 were Sibirenergoinvest with 20.68%, Unified Energy System (UES)with
14.17%, EnGrupp Consult (Moscow) with 11.02% and Depositary Clearing Company, which is nominal holder of 45.5%. [RU ASIA
EUROPE EEU EMRG ELG CORA RES] pr
[Interfax] |
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