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Gazprom first-half profits plunge 49.8pct: company
Russian energy giant Gazprom, the world's largest gas firm, said Monday its net profits plunged 49.8 percent in the first half of 2009 compared to a year earlier due to higher expenses.
Copyright AFP 2008, AFP stories and photos shall not be published, broadcast, rewritten for broadcast or publication or redistributed directly or indirectly in any medium
Half-year profits fell to 305.8 billion rubles (10.6 billion dollars), compared to 609.4 billion rubles (21 billion dollars) in the first six months of 2008, the company said in a statement.
It said net income dropped 6.6 percent on a year earlier to 1.6 trillion rubles (56.6 billion dollars).
Sales of gas to Europe and other states had increased 6 percent as higher prices across the world compensated for drastic falls in export volumes, it said.
At the same time, operating expenses and financial charges rose sharply as the cost of purchased gas soared 105 percent, reflecting an increase in prices for gas from Central Asia.
Copyright AFP 2008, AFP stories and photos shall not be published, broadcast, rewritten for broadcast or publication or redistributed directly or indirectly in any medium
