| 2006-08-07 |
Îïóáëèêîâàíî: RIA Novosti |
Published by As Q2 2006 report of the company reads, in H1 2006 net profit of ITERA Oil & Gas Company has tripled compared to the same period of the last year and amounts to RUR 960.004 million.
The profit markup is associated with the planned growth of volume of proceeds, which in its turn is connected to growth in volumes of gas supply and gas sales prices.
In comparison to January -June 2005 period, during the same period of 2006 ITERA earnings decreased by 19.4% down to RUR 12,255.8 million. Gross profit grew by more than 3 times up to RUR 6,194.71 million, sales profit has increased by 33.6% up to RUR 1,552.137 million, before tax income – by 2.3 times up to RUR 1,292 million. Production cost of products and goods of the company reduced twofold down to RUR 6,061.1 million.
From January 1 to June 30, 2006 ITERA reduced its short term accounts payable by 4.76 times down to RUR 771.914 million and increased accounts receivable by 34.8% up to RUR 5,566.214 million.
ITERA is an independent Russian gas producer. Authorized capital of the Company constitutes RUR 60 million. ITERA’s founders are ITERA Holdings Limited with 99.99% stake (Cyprus) and Valery Otchertsov, Vice-Chairman of the Board of Directors with 0.01% stake.
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