Transneft posts 1H 2011 net profit of 129.9 billion roubles

Transneft posts 1H 2011 net profit of 129.9 billion roubles
Russian oil transportation monopoly, Transneft, has posted a 1H 2011 net profit of 129.9 billion roubles under IFRS.

The net profit jumped 150% year on year from 55.3 billion roubles posted for 1H 2010 to 129.9 billion roubles, with revenues also skyrocketing 40% year on year to 296.5 billion roubles from 208.2 billion roubles a year earlier.

The 1H result includes a 2Q net profit of 45.054 billion roubles, also 150% year on year growth, with sales revenue soared to 147.3 billion roubles from 105.4 billion roubles posted for the same period in 2010.