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MOSCOW, March 19 (RIA Novosti) - Russia's Unified Energy System [RTS: EESR] said Monday its net profits calculated to International Financial Reporting Standards (IFRS) declined 9.3% year-on-year in January-September 2006 to 11.99 billion rubles (about $456 million).
In the first nine months of 2006 the company's revenue from its core business grew 19%, to 654.3 billion rubles ($25.1 billion), up 107.7 billion rubles ($4.1 billion) against the same period in 2005, and expenditure on the core business rose 17% to 585.7 billion rubles ($22.5 billion), up 83.1 billion rubles ($3.2 billion) year-on-year.
The company said in a report that soaring prices for all types of fuels were a major reason for the expenditure.
