04:58 GMT07 June 2020
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    Pipeline operator Transneft net profit up 18% to $2.7bln in 2007

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    Russia's state-controlled oil pipeline operator Transneft [RTS: TRNF] said on Wednesday its net profit calculated to International Financial Reporting Standards grew 17.8% year-on-year in 2007 to 64.67 billion rubles ($2.7 billion).

    MOSCOW, July 9 (RIA Novosti) - Russia's state-controlled oil pipeline operator Transneft [RTS: TRNF] said on Wednesday its net profit calculated to International Financial Reporting Standards grew 17.8% year-on-year in 2007 to 64.67 billion rubles ($2.7 billion).

    Revenue climbed 9.6% to 221.94 billion rubles ($9.4 billion), operating profit grew 16.2% to 95.34 billion rubles ($4 billion), and pre-tax profit was up 17.7% to 95.13 billion rubles ($4 billion) in the reporting period, Transneft said.

    Transneft owns 48,708 km of oil pipelines. The Russian government has a 78% stake in the company.

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