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Russian HydroOGK posts 470% profit growth in 2007

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HydroOGK, Russia’s largest hydroelectric power company, said on Tuesday its net profit calculated to Russian Accounting Standards grew 470%, year-on-year, in 2007 to 8.62 billion rubles ($365 million).

HydroOGK, which unites about 50 hydropower plants across Russia with installed capacity of 25,000MW, said its revenues in the reporting period climbed 660% to 41.80 billion rubles ($1.8 billion), production costs grew 459% to 33.29 billion rubles ($1.4 billion), and pre-tax profit rose by 629% to 10.88 billion rubles ($461 million). (rian.ru)

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