14 Aug 2009 15:28

Russia's IDGC Holding posts revenue of 1.7 bln rubles in H1

MOSCOW. Aug 14 (Interfax) - Russia's Interregional Distribution Grid Company (IDGC) Holding posted sales revenue of 1.7 billion rubles in the first half of 2009, the company said in a report.

Costs totaled 521 million rubles in the half, gross profit - 1.2 billion rubles and pre-tax profit - 1.17 billion rubles.

The company said earlier that net profit totaled 946.7 million rubles in the first half of 2009.

Net profit was 500.4 million rubles in the second quarter of 2009, sales revenue - 895.46 million rubles, costs - 297.65 million rubles and pre-tax profit - 605.3 million rubles.

IDGC Holding was set up on July 1, 2008, therefore the company did not offer any comparative data for the same period of last year in the 2009 financials.

IDGC Holding controls eleven distribution companies in Russia. The Russian government is the controlling shareholder in the company with a stake of 52.7%.