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Friday, May 05, 2006

Itera profit down in 2005

RBC, 02.05.2006, Moscow 18:58:53.Itera, Russia's gas and oil company, reported a net profit of RUR 1.139 billion in 2005, down 9 percent from RUR 1.253 billion in 2004. The company's pre-tax profit dropped 5.39 percent to RUR 1.68 billion, and its gross revenue decreased 36.62 percent, to RUR 3.85 billion. Itera reported a 45.48 percent increase in revenue, at RUR 30.79 billion. Itera is an independent producer of natural gas in Russia. Its main sales market is the Sverdlovsk region. The company's 2004 net profit stood at RUR 1.253 billion. Its authorized capital is RUR 60 million. Founding shareholders are the Cyprus-based ITERA Holdings Limited (99.99%) and General Director Valery Otchertsov (0.01%).

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