Source Pravda.Ru

UES 2001 Profits Up 31% On Higher Domestic Charges

Unified Energy System's 2001 consolidated profit rose by thirty two percent as Russia's national electric power utility benefited from higher prices for electricity and heat, the Renaissance Capital group said in a note to investors.

Net income rose to $481 million from $365 million in the previous year under Russian accounting standards, Renaissance said. Net revenue rose by thirty one percent to $15.6 billion. UES declined to comment on the report.

“We attribute the improved performance of UES to strong year on year electricity and heat tariff growth of thirty five percent and thirty one percent in terms of rubles, respectively, and electricity and heat consumption growth” Renaissance said.

UES's profit growth may slow in 2002 as the government has capped price increases for electricity, gas and rail transport to fight inflation after the inflation rate jumped to eighteen and a half percent in 2001, 6.6 percentage points more than the targeted rate.

Visit to

&to=http://www.rao-ees.ru/en/' target=_blank>RAO-EES

Comments
The need for a Global Political Agenda 2018
Pentagon can not accept Russia's victory over terrorists in Syria
Pentagon can not accept Russia's victory over terrorists in Syria
Putin: Russia will continue spending enough on defence not to be killed
Italy: Free fall
Tel Aviv, Jerusalem, capitals and puppets
North Korea declares victory over USA
The Myth of the Gene: Genetics, Epigenetics and the Organism-Environment Loop
Russia unveils the date for the launch of the superbridge to Crimea
The Myth of the Gene: Genetics, Epigenetics and the Organism-Environment Loop
Putin to Sobchak: We will never let them turn Russia into another Ukraine
Putin to Sobchak: We will never let them turn Russia into another Ukraine
Putin: Russia will continue spending enough on defence not to be killed
The Myth of the Gene: Genetics, Epigenetics and the Organism-Environment Loop
Turkish President Erdogan issues ultimatum to Washington and Brussels
New Syria to be born in Russia's Sochi
New Syria to be born in Russia's Sochi
Torturing Jerusalem with USA's help: No peace, but eternal war for Jews and Arabs
Putin: Russia will continue spending enough on defence not to be killed
Putin: Russia will continue spending enough on defence not to be killed
Putin: Russia will continue spending enough on defence not to be killed