MOSCOW, April 4 (RIA Novosti) - Russian wholesale generating company OGK-2 said on Friday its 2007 net profit calculated to Russian Accounting Standards (RAS) dropped 73%, year-on-year, to 39.3 million rubles ($1.7 million).
The company's sales reached 33.8 billion rubles ($1.4 billion) in 2007, four times as much as in 2006.
According to its business plan, the power generator expects a net profit of 694.7 million rubles ($29 million) in 2008.
OGK-2, established in 2005 as part of the restructuring of Russia's electric power sector, operates five hydropower plants in different Russian regions. The generating company currently has a charter capital of 26.5 billion rubles (about $1 billion).
