Mosenergo posts 1H 2010 Net profit of 4.2 billion Roubles

Moscow electricity generator, Mosenergo, has posted a 1H 2010 Net profit of 4.2 billion Roubles under IFRS.

The bottom line is up 19% on the 3.6 billion Rouble profit posted for 1H 2009, with EBITDA rising 2.9 % to almost 10 billion roubles from 9.7 billion roubles a year earlier, on the back of revenues increasing 25% to 74.7 billion roubles from 59.7 billion roubles in 1H 2009.

The company attributed higher revenues to increased production heat power, which grew 7.5% during the period, which in turn was coupled by higher prices and tariffs.