Mosenergo predicts 80% fall in net profit in 2007
MOSCOW, March 27 (RIA Novosti) - Mosenergo [RTS: MSNG] said Tuesday its net profit could decline 80%, year-on-year, in 2007, to 296.8 million rubles (about $11.4 million).
The board of directors of the Moscow-based electric and thermal power utility approved March 27 the company's business plan for this year. The document reflects the planned revaluation of the company's fixed assets, and larger depreciation and property tax deductions.
Mosenergo, Russia's largest territorial generating company supplying 80% of Moscow's heating requirements and 85% of power demand in the capital and the Moscow Region, posted a net profit of 1.524 billion rubles (about $58.2 million) in 2006.
Under the 2007 business plan, the company's sales will total 75.31 billion rubles (about $2.89 billion), including 36.28 billion rubles (about $1.39 billion) from the sale of electric power and 34.53 billion rubles (about $1.32 billion) from the sale of heat power, the company said.
Mosenergo has 17 power plants in the region, with electric power capacity of 10,700 MWt and heat capacity of 34,200 Gkal/hour. |
