02:06 GMT +325 September 2018
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    Russian power generator TGK-5 doubles first-half profit in 2008

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    MOSCOW, July 31 (RIA Novosti) - Russian regional generating company TGK-5 said Thursday its net profit calculated to Russian Accounting Standards increased 100% year-on-year in January-June to 702.6 million rubles ($30 million).

    "The growth in net profit was due to profit growth from production sales and an initial public offering (IPO) in May last year," the company said in a statement.

    TGK-5 has a total generating capacity of 2.46 GW and incorporates 11 thermal power plants - in the Chuvash and Udmurt Republics, in the Kirov Region and the Mari El Republic.

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