The utility’s core revenues, not accounting for asset sale, increased to RUB503.4 billion in the first half of 2007 compared to RUB446.1 billion for the same period in 2006.
Reuters reported that UES net profit fell to RUB18.7 billion in the first half of 2007 compared to RUB27.1 billion in the same period last year, taking into consideration deferred income tax on asset sale.
The 51% state-owned generation and transmission utility is scheduled to be liquidated by mid-2008 in a bid by the Russian government to introduce competition to the power market, according to Reuters.
