Samruk-Energo increases half-year net profit by 11.2%
ALMATY Sept 6 (Interfax) - Kazakhstan's Samruk-Energo posted 10.996-billion tenge net profit In January-June 2011, an 11.2% increase over the same period of 2010, according to the interim consolidated statements under IFRS.
Profit before tax stood at 13.008 billion tenge, or 10% up from same period last year, revenues reached 44.094 billion tenge (9.5% up), gross profit declined by 10% to $10.852 billion tenge.
The company's assets since the beginning of the year rose 4% to $253.75 billion tenge, equity rose by 11.3% to $125.042 billion tenge, charter capital increased by 0.9% to $77.441 billion tenge, liabilities fell by 2.3% to $128.708 billion tenge.
JSC Samruk-Energo was organized in May 2007 to consolidate the assets in Kazakhstan's energy sector. The company is owned by Samruk-Kazyna National Welfare Fund (94.39%) and KazTransGas (5.61%).
Samruk-Energo focuses on heat and power generation, power distribution, maintenance of electricity distribution network and construction of hydro and thermal power plants.
