Net profit of Transneft down 9% in January-September 2006
Net profit of Transneft decreased by 9% in January-September 2006 to 3.952 billion rubles against 4.323 billion rubles in the similar period of the previous year, AK&M reports. The company’s Q3 result grew by 42.9% to 1.419 billion rubles against 993.246 billion rubles in q2 2006.
Transneft is a monopolist at the market of oil export by pipeline. In 2005 oil transportation volume grew by 1% to 453.8 million tons. The company exported 249.4 million tons, or 105% against results of 2004. Net profit of Transneft under International Financial Reporting Standards grew in 2005 by 23.6% to 53.814 billion rubles after 43.523 billion rubles in 2004. The company’s revenue grew by 20.7% to 181.526 billion rubles after 150.441 billion rubles.
