30 Jul 2009 10:22

Transneft net profit virtually unchanged in H1

MOSCOW. July 30 (Interfax) - Russian oil pipeline operator Transneft posted a net profit of 2.214 billion rubles in the first half of 2009 under Russian accounting standards, just 3% below the profit of 2.292 billion rubles in the same period last year, the company said in a statement.

Net profit totaled 556.479 million rubles in the first quarter and 1.657 billion rubles in the second.

"The profit increase in the second quarter of 2009 compared with the first was mainly due to the easing of the negative impact of exchange rate changes," the company said.