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Tuesday, 02 December, 2008, 03:50 GMT | more >>

Novatek profits on the increase



By Upstream staff 

Russia's second-largest gas producer Novatek today reported an increase in sales and net profits in the second quarter, year-on-year, but failed to meet analysts' expectations.

The company said total revenues increased to 15.04 billion roubles ($582 million) from 12.72 billion in the same period last year, while profit increased to 4.21 billion roubles ($162.9 million) from 3.44 billion.

Analysts had expected the company to report sales of $594 million and net profit of $179.7 million, Reuters reported.


Thursday, 23 August, 2007, 11:52 GMT  | last updated: Thursday, 23 August, 2007, 17:27 GMT

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