Lenenergo boosts sales revenue by 18% in H1
ST. PETERSBURG. Aug 15 (Interfax) - OJSC Lenenergo increased sales revenue by 17.8% year-on-year to 18.727 billion rubles in January-June 2011, the company said in its quarterly reporting.
The company's production costs went up by 22% to 16.185 billion rubles while profit from sales went down by 3% to 2.542 billion rubles. Lenenergo's pretax profit went up by 19.8% to 1.797 billion rubles.
It was earlier reported that Lenenergo's net profit went down by 25.4% year-on-year 1.209 billion rubles in January-June 2011.
Lenenergo is the biggest regional electricity grid company in northwest Russia. The enterprise services an area of 87,100 square kilometers with over 6 million people. The company has 38,800 kilometers of overhead electrical transmission lines, almost 16,000 kilometers in cable infrastructure and over 13,800 substations.
The main shareholders in the company are OJSC IDGC Holding (50.31% of ordinary shares) and the Administration of St. Petersburg (25.16%).