September 07, 2008

SUEK net profit in January to October dips

It is reported that the 10 month net profit of SUEK declined 2.3 fold to RUB 5.732 billion from RUB 13.462 billion.

The revenues reached RUB 51.065 billion or 11.8% higher prior year figures; costs being up 16.6% to RUB 31.158 billion from RUB 26.72 billion, gross profit increased 4.9% to RUB 19.907 billion from RUB 18.976 billion, profit from sales coming to RUB 2.583 billion or 62.3% below last year and pretax profit declined 2.1 fold to RUB 6.857 billion from RUB 14.198 billion.

SUEK is one of the companies included into the coal trading system GlobalCOAL. Over the 5 month period 10.18 million tonnes of coal were delivered to the consumers.

SUEK covers 30% of the coal delivery market and 20% of the exports from Russia. It has the subs in Krasnoyarsky, Primorsky and Khabarovsky reg., Irkutsky, Chitinsky and Kemerovsky regions, Buryatia. Besides, it is the largest strategic investor of the Far Eastern and East Siberian energy systems. It has the blocking stakes in Altaienergo, Chitaenergo.