RusHydro posts 1H 2010 Net Profit of 21.46 billion Roubles

Russian hydroelectricity generator, RusHydro, has posted a 1H 2010 Net profit of 21.86 billion Roubles under IFRS.

The bottom line is up 9.8% on the 19.55 billion Rouble Net Profit recorded for 1H 2009, with EBITDA rising 12.9% year on year to 34.85  billion rubles, as consolidated Revenues rose 21.4% year on year to 205 billion Roubles. The company attributed the results to an increasing share of power sales on the wholesale energy market at market prices, higher competitive prices, and also greater retail sales. The company also noted that the posting includes 1H results from OJSC RAO Energy Systems and OJSC Lenenergo.