20 May 2004 02:38
Transneft profit up 60% in Q1
MOSCOW. May 20 (Interfax) - Net profit at Russian pipeline monopoly Transneft in the first quarter 2004 to Russian
accounting standards amounted to 3.364 billion rubles, up 60% year-on-year, the company said in its report.
Revenue increased 30% year-on-year to 32.381 billion rubles, with costs up 40% to 27.191 billion rubles. Pretax
profit amounted to 4.831 billion rubles, compared with 3.721 billion rubles in the first quarter 2003.
Accounts payable at the company amount to 28.588 billion rubles, with accounts receivable of 17.833 billion rubles.
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