Russia’s energy behemoth UES has released its results for the 9 months to 30 September 2005. Operating profit declined in year-on-year terms by RUB587 million ($21.7 million) to RUB41.9 billion ($1.55 billion).
Property, plant, and equipment assets of the company stood at RUB921 billion ($34 billion), an increase of RUB28 billion ($1.03 billion) from 1 January 2005.
Group revenues and other operating income in the first nine months of 2005 rose by 14% to RUB544 billion ($19.98 billion), an increase of RUB 66 billion ($2.4 billion) compared to the same period of 2004.
However, operating expenses grew by 15% to RUB502 billion ($18.6 billion), mainly driven by increases in fuel prices.