Tuesday, 3 March 2009

Gazprom Third-Quarter Net Rises 16% on Record Prices

Russia's Gazprom on Tuesday posted a 16.4 percent rise in third-quarter net profit to 131.7 billion roubles ($3.64 bln), supported by higher prices but below analysts' expectations.

Gazprom, Russia's gas export monopoly, said its sales calculated under the International Accounting Standards rose to 829.7 billion roubles from 516.2 billion in the same period of 2007.

"This increase was primarily due to the increase of the volume of gas sold to Far Abroad countries and higher gas prices in all geographical segments," Gazprom said in a statement.

more from this article at Reuters

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