TGK-12 RAS net losses up 190% in H1
KEMEROVO. Aug 13 (Interfax) - OJSC Kuzbassenergo , or TGK-12, made net losses figured to Russian Accounting Standards (RAS) of 618.565 million rubles in the first half of this year, up 190% from the 211.008 million rubles in net losses it incurred in the same six months of last year.
Sales revenues were up 14.7% at 17.939 billion rubles.
Kuzbassenergo financial highlights for H1 (1,000 rubles):
| H1 2012 | H1 2011 | |
| Sales revenue | 17 938 797 | 15 644 935 |
| Cost of sales | 17 995 345 | 14 943 610 |
| Gross profit (loss) | (56 548) | 701 325 |
| Sales profit (loss) | (66 874) | 691 834 |
| Pretax loss | (704 284) | (140 038) |
| Net loss | (618 565) | (211 008) |
The company's accounts receivable contracted 17% over the half to 4.091 billion rubles as of June 30. Its long-term obligations increased 7% to 16.449 billion rubles and its short-term owings 67.5% to 15.216 billion rubles.
TGK-12 has six power stations in Kemerovo Region and two in Altai Territory. Its installed generating capacity is 4,480 mWt for power and 8,734.5 gCal/hour for thermal energy.
