19 May 2004 04:50
Transnefteprodukt ups net profit 30% in 2003
MOSCOW. May 19 (Interfax) - Transnefteprodukt posted net profit to Russian accounting standards of 1.12 billion
rubles in 2003, up 30%, the oil product company said in its Q1 2004 report.
Revenue in 2003 surged 170% to 7.98 billion rubles, costs jumped to 4.95 billion from 838,000 rubles, and pretax
profit rose to 1.76 billion from 1.49 billion rubles.
Investment in the charter capital of subsidiaries and dependent
companies totaled 1.75 billion rubles in 2003, compared with 1.31
Revenue increased thanks to calculation amendments made in accordance with a Federal Energy Commission resolution
dated December 18 2002 and changes to oil product transportation contract terms.
billion in 2002.
Net profit soared 540% year-on-year in the first quarter of 2004 to 757.43 million rubles. Revenue climbed 60% to
2.27 billion, costs fell 7.8% to 982.34 million, and pretax profit topped 1 billion rubles, up from 185.43 million
rubles. [RU ASIA EUROPE EEU EMRG CRU RES CORA] me
[Interfax] |
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