Gazprom’s RAS net profit up 4.9% to $15 bln in 2007

Telco

Gazprom’s net profit calculated to Russian Accounting Standards (RAS) increased 4.9%, year-on-year, to 360.5 billion rubles ($15 billion) in 2007, the Russian gas monopoly said in a statement on Tuesday.

Gazprom said the increase in its net profit in the Q4 of 2007 against last year’s Q3 followed a seasonal rise in natural gas exports and sales on the domestic market. Khalil Shekhmametyev, chief analyst at the Otkritie financial corporation, warned against expectations that the news would cause excitement on the Russian stock market, primarily because the report concerned the head company, with no data currently available on its subsidiaries.

Oleg Maksimov, chief analyst at the Troika Dialog investment company, also called Gazprom’s RAS net profit report “uninteresting.” He said a report on the company’s net profit calculated to International Financial Reporting Standards (IFRS) would be much more valuable but that this would be published only after the company has produced a financial report in the Q1 of 2008. (rian.ru)

ADVERTISEMENT

Almost half of Hungarians get fringe benefits, survey shows Analysis

Almost half of Hungarians get fringe benefits, survey shows

Operative corps for economic recovery decides on further mea... Government

Operative corps for economic recovery decides on further mea...

Healthcare Roadshow Highlights Innovation, Screening Awarene... Interview

Healthcare Roadshow Highlights Innovation, Screening Awarene...

Zsa Zsa Gabor's ashes buried in Budapest City

Zsa Zsa Gabor's ashes buried in Budapest

SUPPORT THE BUDAPEST BUSINESS JOURNAL

Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.