Russia's RITEK sees H1 earnings decline 67%

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Russia's RITEK sees H1 earnings decline 67%

MOSCOW. July 29 (Interfax) - Russian Innovative Fuel and Energy Company (RITEK) saw net profit under Russian accounting standards (RAS) decline 67% to 839.092 million rubles in the first half of 2009 compared to the same period of 2008, the company said in a statement.

Net profit totaled 836.511 million rubles in the second quarter, down 50% from April-June 2008. Net profit was 2.581 million rubles in the first quarter of 2009.

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