Transneft posts 1H 2010 net profit of 55.3 billion roubles

Russian oil transportation monopoly, Transneft, has posted a 1H 2010 net profit of 55.3 billion roubles under IFRS.

The bottom line is up from the 54.6 billion roubles Net profit posted in 1H 2009, with revenues rising to 208.2 billion roubles from 166.7 billion roubles a year earlier, and 1H operating profit dropping 7.5% year on year to 76.72 billion roubles.

The 1H result includes a 2Q net profit of 20.5 billion roubles, down from 35.5 billion roubles in 2Q 2009, despite 2Q revenues rising to 105.4 billion roubles from 81.5 billion roubles in the same period a year before, as 2Q operating profits dropped 7% to 34.67 billion roubles.