icon bookmark-bicon bookmarkicon cameraicon checkicon chevron downicon chevron lefticon chevron righticon chevron upicon closeicon v-compressicon downloadicon editicon v-expandicon fbicon fileicon filtericon flag ruicon full chevron downicon full chevron lefticon full chevron righticon full chevron upicon gpicon insicon mailicon moveicon-musicicon mutedicon nomutedicon okicon v-pauseicon v-playicon searchicon shareicon sign inicon sign upicon stepbackicon stepforicon swipe downicon tagicon tagsicon tgicon trashicon twicon vkicon yticon wticon fm
11 Dec, 2008 07:57

Lukoil posts 3Q 2008 Net Profit of $3.47 Billion

Lukoil posts 3Q 2008 Net Profit of $3.47 Billion

Major Russian oil company, Lukoil, has posted a 3Q 2008 Net Profit of $3.47 Billion under U.S. GAAP.

The bottom line result is up 40% on the $2.48 Billion posted o0ver the same period 2007, with EBITDA coming in at $5.57 Billion, on the back of Revenues of $32.55 Billion.  The 3Q results made for a 9M Net Profit of $10.76 Billion, up 70.9%, year on year, with 9M EBITDA of $16.65 Billion, up 60.6%, on 9M Revenues of $89.26 Billion, up 52%.

The company attributed the better than expected results to favourable market conditions over the earlier part of the year, combined with effective cost control.  Lukoil noted that it is taking further steps to increase efficiency and secure a positive cash flow through the global financial crisis.

Dixy posts 9M 2008 Net Profit of $10.1 million

Unemployment wave tipped as economy slows

Aeroflot looking to expand as Airbus 330 goes through paces