Mosenergo posts 9M 2010 net profit of 3.398 billion roubles

Moscow region electricity generator, Mosenergo, has posted a 9M 2010 net profit of 3.398 billion roubles under IFRS.

The 9M net result is up 210% year on year from the 9M 2009 net profit of 1.096 billion roubles, with 9M EBITDA rising 17.4% year on year to 11.671 billion roubles, on the back of a 23.5% year on year increase in 9M revenues to 97.515 billion roubles.The company noted that the results reflected increased higher commercial heat supplies and wholesale market electricity sales, and that its net debt had fallen 44% during the first nine months of the year.