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Friday, 05 December, 2008, 17:10 GMT | more >>

Novatek books 54% profits rise



By Upstream staff 

Russian independent gas producer Novatek reported a 54% jump in net profits in the first quarter from the fourth quarter, easily beating analysts forecasts.

The company said net profits stood at $167.6 million from $109 million in the fourth quarter. Analysts polled by Reuters had expected profits to rise to $155 million.

Novatek said its revenues rose to $588.4 million in the period from $462 million in the previous quarter. Analysts had expected sales to rise to $535 million.


Thursday, 31 May, 2007, 14:10 GMT  | last updated: Thursday, 31 May, 2007, 14:10 GMT

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