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14 Aug, 2008 02:57

Novatek boost H1 profit by 70% to $612.5 million

Novatek boost H1 profit by 70% to $612.5 million

Russia’s second largest gas producer, Novatek, has unveiled a H1 2008 Net profit jump of 70% to $612.5 million, under IFRS.

Sales grew by 39.3% over the half to more than $1.78 billion, with operating expenditures also up over the half by 23 % to more than $963 million.

For Q2 operating expenses rose by 10% quarter on quarter to $501 million, with Revenues coming in at $864 million and EBITDA at $436 million.