RussNeft sees revenue fall 36% in H1
MOSCOW. Aug 14 (Interfax) - RussNeft saw revenue decline 36% in the first half of 2009 compared to the same period of 2008, the Russian oil company said in a report.
Costs fell 41% to 32.7 billion rubles in the half, gross profit - 25% to 17.818 billion rubles, operating profit - 44.4% to 10.098 billion rubles and pre-tax profit - 8.1% to 15.367 billion rubles.
The company's long-term loans and borrowings grew 100% to 155.8 billion rubles in the period, while short-term loans rose 45% to 37.1 billion rubles.
RussNeft said earlier that net profit grew 7.2% to 13.109 billion rubles in the first half of 2009.